I won't go deep into details, but anyway, instead of trying to lower your video game to the lowest settings you possibly could, why don't you set your overall quality to Medium? I readed on the forums that somewhere, that the game isn't optimized well so even if you get the lowest setting the problem will still occur. I will give you my settings which granted 10-15 FPS more since changing from Low to Medium.
Try it yourself and tell us the result.
-} Terrain Quality - Low.
-} Effects Quality - Medium.
-} Geometry Quality - Low
-} Texture Quality - Medium.
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-} Lighting Quality - Low.
-} Dynamic Shadows - Medium.
-} Dynamic Light - Medium.
-} Texture Filtering - Medium.
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About graphics resolution?
I'm personally using 800x600, and 1024x768.
That works pretty well for me.
Oh, keep in mind the CPU too pal.
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Be sure to try out ProcessLaso out as well.