March 10, 2011 / 2:51 PM / in 6 years

UPDATE 1-Bellatrix Exploration loss narrows on higher sales volumes

* Q4 net loss C$0.08 vs C$0.10 yr ago

* Sees 2011 avg daily production of 12,000 boe/d

* Sees 2011 exit rate of 13,000 boe/d

* Shares down 5 pct (Follows alerts)

March 10 (Reuters) - Oil and gas explorer Bellatrix Exploration Ltd posted a narrower quarterly loss, helped by higher sales volumes, and said it expects production to increase in 2011.

Bellatrix said it expects to spend C$100 million in capital expenditures and produce an average of 12,000 barrels of oil equivalent per day (boe/d).

It expects 2011 exit rate at 13,000 boe/d, up from 10,500 boe/d in 2010.

For the fourth quarter, the company posted a net loss of C$8.2 million ($8,464,040.000), or 8 Canadian cents per share, compared with C$8.2 million, or 10 Canadian cents per share, a year ago.

Revenue before royalties was up 58 percent to C$37.8 million. Sales volume for the quarter was up 52 percent to 10,002 boe/d.

Shares of the company fell 5 percent to C$5.15 on Thursday morning on the Toronto Stock Exchange. ($1 = 0.969 Canadian Dollars) (Reporting by Abhiram Nandakumar in Bangalore; Editing by Don Sebastian) (abhiram.nandakumar@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: abhiram.nandakumar.thomsonreuters.com@reuters.net)

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