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* Announces revised capex budget and operational update
* Cuts FY capex forcast to about $10.7 million from prior estimated budget of
$19 million
* Cites reduction in drilling operations in 2009 by several of its exploration
partners
* Says currently producing about 700 boe/day from all areas
* Says acquired 50 percent working interest in 300 acre prospect located in
Allen Parish
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