TriOil Resources Ltd. ("TriOil" or the "Company" - TSXV:TOL) announces that its board of directors (the "Board") has retained GMP Securities L.P. as lead financial advisor to the Board and Dundee Securities Ltd. as financial advisor to the Board to assist it in the strategic review of the Company's business plan and its consideration of additional means to enhance shareholder value.
In addition, TriOil's committee of independent directors (the "Special Committee") has retained Peters & Co. Limited as its financial advisor to assist the Special Committee in its strategic review of the Company's business plan and to assist the Special Committee in its consideration and recommendation to the Board of additional means to enhance shareholder value.
The Special Committee was formed on February 7, 2013 and is comprised of Messrs.Glenn Hockley (Chairman), Andy Mah (Vice-Chairman), Robert Herdman and Korby Zimmerman. Such independent directors have extensive public company, transactional and special committee expertise. A representative listing of transactions that such independent directors have been involved with include:
-- Current strategic review of Anderson Energy Ltd.; -- Aquest Energy Ltd. amalgamation with Anderson Energy Ltd.; -- Eravista Energy Corp. amalgamation with Aquest Energy Ltd.; -- Berens Energy Ltd. sale to PetroBakken Energy Ltd.; -- Matrix Petroleum Inc. amalgamation with Berens Energy Ltd.; -- Marlin Developments Ltd. proxy battle; -- Redcliffe Exploration Inc. sale to Paramount Resources Ltd.; -- Stallion Energy Ltd. amalgamation with Redcliffe Exploration Ltd.; -- Torrington Resources Ltd. amalgamation with Magin Energy Inc.; -- Alberta Oil & Gas Ltd. buyout of share position; -- Embassy Resources Ltd. amalgamation with Unicorp Canada Corp. in hostile takeover; -- Sunshine Oilsands Ltd. special committee to review value of warrants to buy back in preparing for a public offering; -- Fording Inc. hostile bid from Sherritt International Corporation which resulted in the combination of assets of Fording Inc., Sherritt International and Teck Cominico to form Fording Canadian Coal Trust; -- Sale of Ketch Resources Trust to Advantage Energy Income Fund; -- Advantage Oil & Gas Ltd. strategic alternatives transaction process; -- Kereco Energy Ltd. sale to Daylight Resources Trust; and -- Strategic alliance between Gulf Canada Resources Limited and Northrock Resources Ltd. creating additional value to shareholders (capital investment of $1 billion over 3 years).
TriOil is a Calgary, Alberta based company engaged in the exploration, development and production of petroleum and natural gas.