BPK Resources, Inc. Announces Closing on Equity Financing with Public Listed Company in London.Business Editors HOUSTON--(BUSINESS WIRE)--March 5, 2003 BPK BPK Badan Pemeriksa Keuangan (Indonesia) BPK B-Cell Progenitor Kinase BPK Banking and Payment Authority of Kosova Resources, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :BPKR) (the "Company") today announced the closing on a $3.6 Million equity financing Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. between the Company and Ocean Resources Capital Holdings, PLC, a company which is publicly listed in London on the AIM Market ("ORCH ORCH Orchestra ORCH Orchard "). The Company will issue shares of its 10% Convertible Series A Preferred Stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. convertible at $.65 per share in exchange for 4,390,000 Ordinary Shares of ORCH and Warrants to purchase an additional 1,463,333 shares of ORCH Ordinary Stock. John B. Connally, III, President of the Company commented, "The closing of this financing allows the Company to continue to accomplish its long range goals in the oil and gas sector. We expect to be able to utilize this equity infusion to complete our payments for the purchase of our interests in both the Waha Lockridge and Louisiana Shelf projects, two projects which have great promise for adding significant reserves to BPK in the near term." About BPK Resources, Inc: BPK Resources, Inc., based in Houston, Texas “Houston” redirects here. For other uses, see Houston (disambiguation). Houston (pronounced /'hjuːstən/) is the largest city in the state of Texas and the , is a new breed of independent oil and gas company engaged in acquiring, exploring and developing natural gas and oil properties. The Company is using a strategy that targets high potential assets by leveraging its relationships and by seeking out partners on a project-by-project basis that are experts in the specific area being targeted. This strategy is exposing its shareholders to projects with world class potential, managed by some of the industry's most talented people. This strategy is intended to allow the Company to generate significant shareholder value, cost effectively, while reducing certain risks traditionally inherent in the oil and gas industry. In just under a year of oil and gas operations, the Company has executed its strategy and has positioned itself in three North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. and one International project of world-class potential, operated by some of the leaders and most dynamic names in the oil and gas industry. The Company has partnered with Amerada Hess, Tom Brown, Inc., Oscar Wyatt Oscar S. Wyatt, Jr. (born 1924) is an American energy executive who pled guilty to a scheme to provide kickbacks to Saddam Hussein's Iraq in exchange for oil contracts under the United Nations Oil-for-Food Programme, [1] [2] , TMBR/SHARP and NuCoastal Corporation. This release contains certain forward-looking statements regarding potential future events and developments affecting the business of the Company. These forward-looking statements involve known and unknown risks, uncertainties or other factors not under the Company's control which may cause actual results, performance or achievements of the company to be materially different from the future results, performance, achievements or other expectations expressed or implied by these forward-looking statements. To find out more about BPK Resources, Inc., visit the Company's website at www.bpkresources.com |
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