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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (4044)	1/8/2014 7:59:55 PM
From: Goose94	Read Replies (1) \| Respond to of 203019

Manitok Energy (MEI-V) hits record monthly average oil production, stock up Just six weeks after announcing the company had broached the 5000 boe/d level for the first time Manitok Energy announced Wednesday that it had averaged 5500 boe/d through December to set a new production record. The levels exceed the company 2013 exit guidance of 5,300-5,500 barrels, with proportion of oil production (58%) also above guidance (54-56%). The company also update investors on drilling operations, revealing the last well at Stolberg is read to move to production: “Manitok completed drilling the horizontal section of the 21st Stolberg Cardium horizontal oil well at 100/11-12-42-15W5M (100% working interest) on January 3, 2014.” “Similar to the last well at Stolberg (102/10-11-42-15W5M), the data retrieved during the drilling operations of this well was strong enough to support the decision to immediately tie it in to existing permanent facilities on the lease without any production testing. The well is anticipated to be on production within the next two weeks.” The company continued, “The drilling rig will move to the next Stolberg horizontal Cardium location at 100/08-11-42-15W5M (75% working interest), which directly offsets the successful 20th Stolberg Cardium horizontal well at 102/10-11-42-15W5M (75% working interest).” Manitok is currently drilling the horizontal leg of the second Quirk Creek farm-in well, with production testing anticipated to begin in early February. Manitok shares rose 3.2% to $2.22 on the news on significant volume, up from $1.93 in mid-December. The company has a market cap of $168.1 million on 75.7m shares outstanding. Read more at http://www.stockhouse.com/news/natural-resources/2014/01/08/manitok-energy-v-mei-hits-record-monthly-average-oil-production-stock-up#Sd57sYRjb9lxJZ0X.99