Prairie West Oil and Gas provides update on acquisition by US publically traded company
(firmenpresse) -
Prairie West Oil and Gas provides update on acquisition by US publically traded company
Filings available online
CALGARY, Alberta Canada/December 7th, 2012 -- Today Prairie West Oil and Gas is announcing that it's moving forward in the process of being fully acquired by a US publically traded corporation. The end goal for Prairie West is to facilitate a move to a fully reporting United States-based exchange.
A PRE 14C was filed on November 23, 2012. A 8K was filed on November 27, 2012. A Definitive 14C which will finalize the name change is expected to be filed this week. (KAT RACING to Prairie West Oil and Gas Ltd. ) The filings are available online at: http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001377167&owner=exclude&count=40
President Anthony Sarvucci: "As mentioned in our previous news release, the team here at Prairie West believes it's in the best interest of current and future shareholders to shift the company's market presence from the non-reporting Frankfurt Open Market exchange to the fully reporting OTC-QB exchange.
The operational successes Prairie West has achieved in 2012 were substantial. Indications are that this meaningful growth will continue through 2013. Our public market goal has always been to have our share price reflect the company's growth and audited assets. Admittedly, this is something Prairie West has been unable to do on the thinly traded Frankfurt Open Market exchange.
A move to a more transparent, fully reporting exchange closer to home makes sense for both our company and our shareholders."
It's Prairie West's understanding that the company will be delisted from the Frankfurt Open Market exchange on December 15, 2012. Rest assured that upon completion of the aforementioned acquisition, all existing shares currently held by investors will be exchanged for shares which will be available to trade on the OTC-QB market. The conversion ratio has yet to be determined. Prairie West will release this data via a press release as soon as the details of the acquisition are finalized.
About Prairie West Ltd.:
Prairie West Oil & Gas is a producing energy company with both established production and assets within the center of Canada's highest reserve epicenters; the oil boom provinces of Alberta and now Saskatchewan. Prairie West operates under the notion that now is the time to take advantage of favorability priced acquisitions and joint ventures while constantly striving to reduce the cost of doing business. The goal is to build for the future while remaining focused onthe short term profitability that rewards early shareholders.
The experienced team at Prairie West has the expertise and proven execution required for success in today's rapidly changing energy sector. This has been clearly demonstrated with the Maidstone acquisition, the more recent eleven well expansion located in close proximity to current production and a 27 well producing gas play in Saskatchewan Canada.
Prairie West's primary long-term development project is strategically placed within the highly productive Twining area which is surrounded by major multi-national energy giants such as EnCana, Suncor and Devon Energy. This project is immediately adjacent to the enormous Twining Rundle/Mannville Pool with original oil in place of 1.013 billion barrels equivalent.
Leseranfragen:
Prairie West Oil and Gas
Gary Pearce
888 3rd Street SW Suite 1000
Calgary, Alberta T2P5C5
Kanada
TEL.: +1 403 444 6880
" alt="Nucentcom PLC Applies for Listing on GXG Markets ExchangeDatum: 07.12.2012 - 08:27 Uhr
Sprache: Deutsch
News-ID 210626
Anzahl Zeichen: 3540
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Town:
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Kategorie:
Business News
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