Castle Energy Corporation Announces Stock Split.Business Editors RADNOR Radnor may refer to:
Castle Energy Corporation(1) (Nasdaq:CECX) (the "Company") announced today that its Board of Directors declared a stock split in the form of a two hundred percent stock dividend yesterday. The record date is January January: see month. 12, 2000 and the issuance date for the new shares to be issued is January 31, 2000. The Company expects that its share price will first reflect the issuance of the additional shares on February 1, 2000. Mr. Joseph L. Castle II, Chief Executive Officer and Chairman, indicated that the lower share values resulting from the additional shares issued could result in additional market accessibility for the Company's common stock. The Company is a public exploration and production company. It currently owns interests in approximately 530 oil and gas wells located in ten states in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Approximately half of the wells are operated by the Company. The Company also has a fifty percent (50%) interest in three oil and gas concessions in Romania but drilling there has not yet commenced. 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. in this announcement are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Investors are cautioned that all forward-looking statements involve risks and uncertainty, including without limitation, the costs of exploring and developing new oil and natural gas reserves, the price for which such reserves can be sold, environmental concerns effecting the drilling of oil and natural gas wells, as well as general market conditions, competition and pricing. Please refer to the Company's Securities and Exchange Commission filings for additional information. (1) Castle Energy Corporation is not affiliated with Castle Oil Corporation |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion