Primera appoints Peters & Co. financial adviser Primera appoints Peters & Co. financial adviser
Primera Energy Resources Ltd (C:PTT)
Shares Issued 57,114,750
Last Close 3/19/2012
.20
Thursday March 22 2012 - News Release
Mr. Geoffrey Leid reports
PRIMERA ENERGY RESOURCES LTD. (TSX VENTURE:PTT) ANNOUNCES RETENTION OF ADVISOR
Primera Energy Resources Ltd. has appointed Peters & Co. Ltd. as its financial adviser to assist the corporation in its review of alternatives. Peters & Co. will be working with the special committee of the corporation's board of directors in that regard as previously announced on March 13, 2012.
The special committee, in conjunction with Peters & Co., will evaluate alternatives, which may include, but are not limited to: a private placement or other offering of equity or debt; the sale of a material portion or other assets of the corporation; the sale of the corporation, either in one transaction or in a combination of transactions; a merger or other business combination with another company; or a farm-out or joint venture.
The corporation has not established a definitive timeline to complete its review, and no decision on any particular alternative has been reached at this time. There can be no assurance that the process will result in a transaction of any form or, if a transaction is undertaken, as to its terms or timing. The corporation does not intend to make any further announcements regarding the process unless and until the board has approved a specific transaction or other course of action or otherwise deems disclosure of developments is appropriate. The corporation intends to continue to pursue its present business plan during this period which is to exploit its oil and gas properties in Trinidad. These activities include workovers and sidetrack wells on its lease operatorship and the participation in its 16.2-per-cent working interest in the Cory Moruga E block, all of which are focused on oil opportunities situated onshore Trinidad.
We seek Safe Harbor.