Petro-Reef Resources Ltd. Announces a Production Increase of 181 Boe/Day and a Reserves Increase of 12%

Petro-Reef Resources Ltd. (TSXV:PER) announced increases to both production and reserves.

As quoted in the press release:

Petro-Reef’s gross proved plus probable reserves at October 1, 2011 indicated an increase of 12% to 1,771,150 BOE from 1,580,000 BOE at December 31, 2010, after extensions, technical revisions, discoveries, acquisitions, economic factors, and production. After considering the production for the period January 1 to September 30, 2011 of 180,300 BOE, the 2011 reserve additions totalled 371,450 BOE which represents an increase of 24% over the 2010 year end reserves.

Click here for the Petro-Reef Resources Ltd. (TSXV:PER) press release.