AAV's Proven Potential

ROGER SERIN, TD Newcrest (01/11/2011)
"The company continues to develop its core liquids-rich Montney natural gas asset at Glacier. The current development plan is expected to bring production from the area to 100 mmcf/d (representing ~50% of total corporate volumes). Upon completion of this current phase of development by Q211, production from the area will have approximately doubled in twelve months. Asset sales and increasing production give the company increased flexibility relative to its credit facility. . .it has clearly demonstrated the potential of the Glacier property and is meeting its growth expectations for the play."

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