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Parex reported preliminary production numbers for 4Q12 of 12,800bd. That represents a nearly 18% increase over the third quarter. December average production was 13,550bd so there would be high hopes for 1Q13. We had previously written that one of the company’s challenges was growing new fields faster than the Kona field was declining. Although this press release provided no field-level detail, it certainly appears that Parex accomplished this in aggregate.

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