Stonefire Sets Lower Capital Budget For 2009

摘要

Stonefire Energy Corp. has set a $11.5 million capital budget for 2009 to be funded from forecast cash flow. Total 2008 capital spending is estimated at $21 million, resulting in year-end net debt of $ 19.4 million versus current bank lines of $30 million, Stonefire said in a year-end operations update.