Galleon Energy Inc. Reports Third Quarter 2010 Financial Results

Galleon Energy Inc. (TSX:GO) announces third quarter 2010 financial results and 2011 guidance.

The press release is quoted as saying:

Galleon has used average commodity price assumptions of $85/Bbl USD WTI for oil and $3.70/GJ CDN for natural gas in the 2011 corporate budget. A foreign exchange rate of $0.97 has been used. For 2011, the Corporation has commodity hedge contracts in place for 33.3 Mmcf/d of natural gas with an average fixed price of $5.71/Mcf and 2,500 Bbl/d of crude oil with an average price of $82.90/Bbl WTI Cdn.

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