As a result of the shareholder approval to increase the number of shares of Capital Stock, the Company will effect its previously announced two-for-one stock split, originally approved by its Board on March 1, 2006. Stock certificates representing the additional shares to be issued pursuant to the stock split will be distributed by the transfer agent on or about June 2, 2006 in the form of direct registration shares (DRS) or in certificate form to all shareholders of record at the close of business on May 17, 2006. The Company's Common Stock will begin trading at its new price per share on June 5, 2006, and reporting on the results of post-split trading should commence accordingly. Upon completion of the split, the number of shares of common stock outstanding will be approximately 42.4 million shares of Common Stock and 1.8 million shares of Class B Stock.
Separately, the shareholders also approved all directors nominated and standing for election to serve on Berry's Board.
Berry Petroleum Company is a publicly traded independent oil and gas production and exploitation company with its headquarters in Bakersfield, California.
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