Next year is going to be a lot better year for IO and all oil/gas business around the world.

John Dielwart, ARC's Chief Executive Officer, said, "Strong production from 2009 provides a platform for a period of growth beginning in 2010 and continuing for several years beyond. Commissioning of the new Dawson gas plant early in the second quarter of 2010 should propel ARC exit volumes to greater than 73,000 boe per day and work has already begun on the Phase 2 gas plant for proposed commissioning in early 2011. On the oil side, we will be expanding our horizontal drilling programs at Pembina, Ante Creek and Goodlands as we follow-up on successful results achieved to date." "Our focus on risk managed value creation has served our investors well. Our approach to running the business has not changed with this budget. More capital has been dedicated to expansion, as we believe that moving into a period of measured growth is the best way to create value from our Montney assets. In addition, a meaningful exploration component is included in this budget to address the 'what's next' component of our strategy," added Mr. Dielwart.

<< Highlights of the 2010 Budget - The capital budget has been set at $575 million with key initiatives being: - Significant near-term growth from our Montney assets - Diversified investment in our base assets, primarily directed to the application of horizontal drilling and multi-stage fracture completion technology on our oil properties - Funding of exploration initiatives intended to identify areas for future growth - Advancement of our CO(2) enhanced oil recovery projects - Over 40 per cent of the expenditures ($250 million) will be spent to increase production from the Montney assets in northeast British Columbia through the commissioning of a 60 mmcf per day gas plant early in the second quarter of 2010. Included in this number are funds for the drilling of the operated and non-operated horizontal wells required to maintain production at approximately 115 mmcf per day once the new plant comes onstream. We also have funds allocated to the design and construction of the Dawson Phase 2 gas plant and for the drilling of the horizontal wells required to fill the plant when it starts-up early in 2011.