Feb 12 (Reuters) - Bonterra Energy Corp BNE.TO :
* ANNOUNCES FULLY-FUNDED 2020 BUDGET, 2019 RESERVES INFORMATION AND 2019 OPERATIONAL HIGHLIGHTS
* BOARD OF DIRECTORS HAS APPROVED AN INITIAL 2020 CAPITAL BUDGET SET AT APPROXIMATELY $70 MILLION
* ANNUAL AVERAGE PRODUCTION VOLUMES ARE EXPECTED TO RANGE BETWEEN 12,300 AND 12,600 BOE PER DAY
* BONTERRA ENERGY- 2020 CAPITAL PROGRAM FORECASTS ALLOCATION OF ABOUT $65 MILLION TO DRILL, COMPLETE AND TIE-IN 34.9 GROSS (29.9 NET) WELLS
* BONTERRA ENERGY- 2020 CAPITAL PROGRAM FORECASTS ALLOCATION OF ABOUT $5 MILLION FOR INFRASTRUCTURE COSTS
* EXPECTS TO DIRECT FREE FUNDS FLOW TO FURTHER REDUCE OUTSTANDING BANK DEBT
* BONTERRA ENERGY- ANTICIPATES GENERATING $86 MILLION IN CORPORATE FUNDS FLOW AND INCURRING APPROXIMATELY $4 MILLION IN DIVIDEND PAYMENTS FOR YEAR 2020
* BONTERRA ENERGY- CO MAY ELECT TO ADJUST AMOUNT & TIMING OF CAPITAL SPENDING TO ENSURE OPTIMAL RETURNS WHILE SEEKING TO FURTHER REDUCE ITS DEBT LEVELS