November 12, 2009 / 2:24 PM / in 8 years

UPDATE 1-Bonterra Q3 profit falls, trims production view

* Q3 EPS C$0.31 vs C$1.22 last year

* Cuts FY09 production by 100 boe/d to 5,100

* Sees FY10 capex C$40 mln to C$50 mln Nov 12 (Reuters) - Bonterra Oil & Gas Ltd BNE.TO posted lower third-quarter results, hurt by the drop in crude oil and natural gas prices, and trimmed its full-year production outlook.

The company earned C$5.8 million, or 31 Canadian cents a share, compared with C$21.1 million, or C$1.22 a share a year earlier.

Revenue from realized oil and gas sales fell nearly 40 percent to about C$21 million.

During the quarter, benchmark oil prices averaged $68.24 a barrel, down 42 percent from a year earlier. Natural gas averaged $3.44 per million British thermal units on the New York Mercantile Exchange, down 62 percent.

Bonterra expects 2010 capital expenditures between C$40 million and C$50 million and production volumes between 5,700 boe/d and 6,000 boe/d.

Bonterra shares closed at C$29.35 Wednesday on the Toronto Stock Exchange. (Reporting by Isheeta Sanghi in Bangalore; Editing by Anil D‘Silva) ((isheeta.sanghi@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: isheeta.sanghi.thomsonreuters.com@reuters.net))

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