Benton Oil and Gas Extends Expiration Date for $11.00 Warrants.CARPINTERIA, Calif.--(BUSINESS WIRE)--Nov. 11, 1999-- Benton Oil and Gas Company (NYSE NYSE See: New York Stock Exchange : BNO BNO Beroepsorganisatie Nederlandse Ontwerpers BNO Boys' Night Out (band) BNO Boyz Nite Out BNO Big Night Out (band) BNO Bau- und Nutzungsordnung BNO Baksan Neutrino Observatory ) today announced that its Board of Directors had voted to extend by one year the expiration date Expiration Date The day on which an options or futures contract is no longer valid and, therefore, ceases to exist. Notes: The expiration date for all listed stock options in the U.S. of its $11.00 warrants expiring ex·pire v. ex·pired, ex·pir·ing, ex·pires v.intr. 1. To come to an end; terminate: My membership in the club has expired. 2. on January 18, 2000. The new expiration date for these warrants is now January 18, 2001. A total of 588,000 warrants were issued in January 1996 with a strike price of $11.00, of which 577,000 are still outstanding. While the Board considers this action to be an appropriate response to unique conditions, it does not intend that this action would affect any other securities of the Company or anticipate that it set any precedent for the future. Benton Oil and Gas Company is a Carpinteria, California Carpinteria is a small oceanside city located in the southeastern extremity of Santa Barbara County, California, east of Santa Barbara and northwest of Ventura. The population was 14,194 at the 2000 census. based independent oil and gas company with operations and activities in six countries around the world. This press release may contain "Forward-Looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. All statements other than statements of historical facts included in this release may constitute forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Actual results may differ materially from the Company's expectations due to changes in operating performance, project schedules, oil and gas demands and prices, and other technical and economic factors. |
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