Printer Friendly

ALTA CONCLUDES $16 MILLION FINANCING AND SHAREHOLDER PROPOSALS APPROVED

 DENVER, Jan. 5 /PRNewswire/ -- Alta Energy today announced the completion of a $16 million private financing with several institutional lenders which will enable Alta to commence drilling 42 infill oil wells in its New Mexico development program. The first nine of these wells are scheduled to be drilled and completed during the first quarter of calendar 1993, the third quarter of Alta's fiscal year.
 Separately, at its annual meeting on Dec. 28, 1992, Alta's shareholders approved a one-for-six reverse common stock split and also voted to reincorporate the company in Delaware. The stock split will become effective on Jan. 29, 1993. Management believes that a higher stock price will make Alta more attractive to the investment community and also enable the company to qualify for full listing on the American Stock Exchange.
 Alta Energy Corporation's common stock is traded on the American Stock Exchange Emerging Company Marketplace under the symbol ALE.EC.
 -0- 1/5/93
 /CONTACT: Charles Lard of Alta Energy, 203-677-8707/
 (ALE.EC)


CO: Alta Energy Corporation ST: Colorado IN: OIL SU: FNC

TS-CK -- NY049 -- 1745 01/05/93 12:41 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jan 5, 1993
Words:184
Previous Article:FIRST TEAM SPORTS ANNOUNCES RECORD THIRD QUARTER EARNINGS
Next Article:AT&T ANNOUNCES LOWERING OF PRICE OF AT&T VIDEOPHONE 2500
Topics:


Related Articles
ALTA ENERGY ANNOUNCES 52-WELL PROGRAM
BROAD INC. SHAREHOLDERS APPROVE NAME CHANGE TO 'SUNAMERICA'
ALTA ENERGY CORPORATION MOVES UP TO THE AMERICAN STOCK EXCHANGE PRIMARY LIST; COMPANY PREVIOUSLY TRADED ON THE EMERGING COMPANY MARKETPLACE
ALTA ENERGY BOARD APPROVES MERGER WITH DEVON ENERGY
ALTA ENERGY COMMENTS ON DEVON ENERGY PROPOSAL
ATLAS CORP'S U.S. $50 MILLION EQUITY OFFERING TO CLOSE IN TWO TRANCHES
AT&T Announces Preliminary 2005 Annual Meeting Voting Results.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters