Paramount gold and silver corp Prospex Acquisition

Indonesia stock info ; Paramount gold and silver corp Prospex Acquisition : Paramount's average sales volumes increased 27 percent to 16,572 Boe/d in the second quarter of 2011 compared to 13,097 Boe/d in the previous quarter, primarily as a result of production increases in the Kaybob COU and the impact of the ProspEx acquisition (June - 2,850 Boe/d, second quarter - 950 Boe/d). Sales volumes were affected by operational disruptions in the Grande Prairie COU where a third-party processing facility shut-in Karr-Gold Creek production for 22 days and in the Northern COU where a third-party pipeline failure affected liquids sales volumes during the quarter. Paramount's average sales volumes exceeded 20,000 Boe/d during the last two weeks of June.

The second quarter netback per Boe increased 21 percent compared to the previous quarter, primarily because of lower per unit operating costs. The Company's operating costs are normally higher in the first quarter as a result of annual scheduled repair and maintenance programs at winter access locations in the Northern COU.

Paramount gold and silver corp Prospex Acquisition

On May 31, 2011, Paramount completed the acquisition of ProspEx; paying $64.8 million in cash and issuing two million Paramount Common Shares.

Through the acquisition, Paramount added a suite of high impact liquids-rich natural gas assets with multi-zone and horizontal drilling potential in several zones, including the prolific Falher C zone in the Kakwa area. These assets increase Paramount's Deep Basin land holdings in the Kakwa, Elmworth and Wapiti areas of Alberta. The acquisition also included assets in the Pembina and Brazeau areas and numerous drilling locations in the Birch area of north eastern British Columbia, a liquids-rich Montney gas opportunity. In addition, the acquisition included reserves and production from the Ricinus and Harmattan areas of Alberta.

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