Parex Resources Announces 2012 Budget

Parex Resources Inc. (TSX:PXT) reported its 2012 guidance and capital plans.

As quoted in the press release:

Building on our 2011 operational and exploration success, Parex currently plans a self funding 2012 capital investment program of $230-$275 million for exploration and development operations in Colombia and Trinidad resulting in a 2012 production exit rate of approximately 17,000 bopd.

Click here to read the Parex Resources Inc. (TSX:PXT) press release.