Feb 10 (Reuters) - Kelt Exploration Ltd KEL.TO :
* Reports significant increases in reserves, undeveloped land and production in
2015 and provides updated 2016 guidance
* Average production for 2015 was 18,577 boe per day, up 46% from average
production of 12,756 boe per day
* Says now plans to drill five gross (4.5 net) wells in 2016
* Says elected to reduce its capital expenditure budget for 2016 to $65.0
million
* Reducing its 2016 production forecast by 1,000 boe per day or 5% of its
previous estimate
* Says royalties are expected to average 9.4% of sales in 2016
* Source text for Eikon ID:nNrm8j6Rst
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