Andrew Calerich, President and CFO commented by saying, "With the completion of these transactions, we are in a position, not only to fund our projected capital obligations in our Big Sky Project, but also to continue to move forward in our other projects where we see opportunity for reserve and cash flow growth."
Through the end of 2004, the Company expects to participate with working interests ranging from approximately two to fourteen percent, in the drilling of at least nine additional horizontal Bakken wells in its Big Sky project in Richland County, Montana.
The above private placement was made pursuant to exemptions from registration under the Securities Act of 1933, including but not limited to, Sections 3(b) and 4(2), as well as Rule 506 of Regulation D under the Securities Act of 1933. The shares were sold without a general solicitation pursuant to Blue Sky limited offering exemptions and were issued with a legend restricting resale.
Most Popular Articles