10:44 AM EST - Fairborne Energy Ltd. : provided this summary of its financial and operating results for the third quarter of 2011. Fairborne reported a 16% increase in funds generated from operations of $31.5 million in the third quarter (Q2 2011 – $27.2 million), with a strong operating netback of $24.85 per BOE. Operating costs of $8.33 per BOE in the third quarter reflected cost savings associated with the start up of the Marlboro gas plant during the second quarter as well as the impact of the first quarter asset disposition, which included non-core properties with a combined operating cost exceeding Fairborne's corporate average. The Company expects operating costs to range between $8.00 and $9.00 per BOE for the balance of 2011. Fairborne Energy Ltd.
shares T.FEL are trading down $0.05 at $3.33.
