Promax Energy Inc. said that based on recent test rates from its southeastern Alberta properties and a thorough review of gas price risk management strategies with its gas marketer, Coral Energy Canada Inc., it has physically hedged an additional 4 MMcf/d of gas at C$4.37/Mcf for three years beginning Dec. 1. This brings the total hedged volume to 12 MMcf/d with 8 MMcf/d at C$4.71 and 4 MMcf/d at C$4.37 for an average of C$4.59/Mcf. The company said approximately 50% of its current production will be hedged with the balance sold to the spot market. Promax Energy is a junior oil and gas exploration and production company focusing on natural gas in southeastern Alberta.

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