May 3, 2010 / 12:01 PM / 7 years ago

UPDATE 1-Bellamont Exploration raises year-end production view

* Raises production view to 2750 boe/d from 2550 boe/d

* Raises 2010 capital budget to C$35 mln from C$30 mln

May 3 (Reuters) - Canada's oil and gas company Bellamont Exploration Ltd BMXa.V said it raised its year-end production outlook by 8 percent, citing a C$5 million increase in its 2010 capital budget and successful drilling so far in the year.

The company raised its production forecast to 2,750 from 2,550 barrels of oil equivalent per day (boe/d), and increased its capital budget to C$35 million ($34.4 million) from C$30 million.

The company also entered into an agreement with the National Bank of Canada (NA.TO) to increase its revolving credit facility to C$42.5 million from C$30.0 million.

Shares of Bellamont closed at 67 Canadian cents Friday on the Toronto Venture Exchange.

$1=1.017 Canadian Dollar Reporting by Aftab Ahmed in Bangalore; Editing by Anne Pallivathuckal aftab.ahmed@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5828; Reuters Messaging: aftab.ahmed.reuters.com@reuters.net

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