Tofield Property Boosts Twoco Volumes

摘要

Twoco Petroleums Ltd. is crediting last year's drilling, helped by the acquisition of a property at Tofield, Alberta, for a 14% increase in production volumes during the year. The junior saw average daily volumes rise to 1,365 bbls of oil equivalent per day from 1,202 BOE per day in 2007, mainly the result of higher natural gas production. Gas volumes rose to 8.2 mmcf per day in 2008 from 7.2 mmcf per day in 2007 (fourth-quarter figures were not reported). The Tofield gas property was acquired for about $11.5 million in September, 2008.