Tuscany Energy Ltd. (TSXV: TUS) reported significant production and revenue gains over the prior year, and exited the year with no debt.

According to the release, the key focus for Tuscany during 2012 was to increase and optimize its heavy oil production and maintain a positive working capital position.

Due to the weakness of heavy oil prices throughout the year, it was found prudent to focus the bulk of the company's capital expenditures on upgrading its battery and water disposal facilities. As a result, the company was able to increase ...