Arcan Announces Record Third Quarter 2011 Results

Arcan Resources Ltd. (TSXV:ARN) has filed its interim consolidated financial statements for the period ended September 30, 2011.

As quoted in the press release:

Highlights of the third quarter of 2011:

• Production was up 34 percent to 3,684 BOE per day for the three months ended September 30, 2011 from 2,740 BOE per day for the three months ended September 30, 2010;

• Consolidated operating netbacks increased to $41.90 per BOE (on revenue of $83.70 per BOE with operating costs of $24.33 per BOE), up five percent from $39.98 per BOE in the third quarter of 2010;

Click here to read the Arcan Resources Ltd. (TSXV:ARN) press release.