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Tourmaline Oil Details 2014 Capex Budget, Year-end 2013 Financial Results

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February 24, 2014

Tourmaline Oil Corp. (TO: TOU.TO) detailed its 2014 capex budget, and also detailed its year-end 2013 financial update, on Feb. 19.

The 2014 capex budget has been expanded to CA$1 billion, up from CA$900 million, due to a completed equity financing during this year’s first quarter, the company said.

Additionally, due to this capex increase, production guidance for the current full year has been increased to 120,000 barrels of oil equivalent per day (BOE/d), Tourmaline noted. This was a 60% increase from 2013’s 74,796 BOE/d production, the company said.

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