Arsenal Energy Releases Q3 Results

Arsenal Energy Inc. (TSX:AEI) announced its 2011 third quarter results.

As quoted in the press release:

Good production results from two new Bakken wells in North Dakota and a large hedge realization contributed to very strong Q3 cash flow. Looking forward, Arsenal anticipates closing the previously announced acquisition of 1,500 boe/d of production for $40.25 million on November 15th. With the acquisition and additional Bakken production gains in Q4, Arsenal anticipates strong cash flow growth to continue in Q4 and through 2012.

Click here to read the Arsenal Energy Inc. (TSX:AEI) press release