Big Sky Petroleum Announces Restructuring
03 Dicembre 2013 - 10:15PM
Marketwired
Big Sky Petroleum Announces Restructuring
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec 3, 2013) - Big
Sky Petroleum Corporation (TSX-VENTURE:BSP)(PINKSHEETS:BGKYF) ("Big
Sky" or the "Company") today announces a restructuring of its share
capital and management with a view to ensuring the Company's
continued viability and the viability of its operations in Texas.
With more companies leasing and drilling nearer to Big Sky's land
position in Texas the steps that the Board has taken to reduce
costs and improve the share structure will allow Big Sky to
continue to advance those prospects.
The board of directors of the Company resolved to consolidate
the issued and outstanding common shares on the basis of one new
share for every 10 old shares. The number of currently outstanding
common shares is 60,676,665 and the number of common shares
outstanding following the proposed consolidation will be 6,067,666.
There will be no name change in conjunction with the
consolidation.
As part of the restructuring and operating cost reductions being
put in place for Big Sky, Milton Cox, Chief Executive Officer, has
tendered his resignation as both the Chief Executive Officer and
director. Sam Nastat, President has been appointed as the Chief
Executive Officer and President of the Company.
Big Sky is actively in discussions with third party investors
and industry participants regarding possible joint venture
development programs to finance further wells for the Company's
3,000 acre Wolfcamp prospect. Activity in the surrounding areas
continues at a brisk pace as more horizontal Wolfcamp wells are
being drilled and brought to production. Big Sky currently has
spacing for 80 horizontal well completions in the Wolfcamp "A" and
"B" sections based on two laterals per well location.
About Big Sky
Big Sky Petroleum Corp. (TSX-VENTURE:BSP) is a Canadian oil and
gas exploration and production company with U.S. operations in
Texas and Montana. The Company is currently focused on the
development of unconventional tight oil reservoirs in the Southern
Midland Basin of West Texas, and the Southern Alberta Basin of
Montana. The Company uses the latest technology and streamlined
operations for a scalable and repeatable business model based on
precise execution, while still emphasizing growth.
Sam Nastat, President and Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Sandrine
Lam604-687-3520sandrine@pacificopportunity.comwww.bspcorp.com
Grafico Azioni Big Sky Petroleum Corporation (TSXV:BSP)
Storico
Da Mag 2024 a Giu 2024
Grafico Azioni Big Sky Petroleum Corporation (TSXV:BSP)
Storico
Da Giu 2023 a Giu 2024
Notizie in Tempo Reale relative a (Venture Exchange Canada (TSXV)): 0 articoli recenti
Più Big Sky Petroleum Corp Articoli Notizie