Prairie West announces TSX listing
Company will effect 2:1 reverse stock split along side filing
CALGARY, Alberta Canada/September 8, 2011 — Canadian Oil & Gas Producer, Prairie West Oil & Gas is today pleased to announce its plan to file for a listing on the TSX Stock Exchange and effect a 2:1 reverse stock split. This positive event will make Prairie West a dually listed company in both Germany and Canada which better reflects the convergence between Canadian operations and European financing activities. The 2:1 reverse stock split allows Prairie West to double its share price with the goals of qualifying for the more prestigious levels and attracting institutional investors.
Vice President Anthony Sarvucci: „The Team here at Prairie West feels that this is the right move for both our company and our shareholders. A duel listing will increase our visibility, enhance our transparency and make us more accessible to the North American investor. A 2:1 reverse stock split should enable our company to warrant a more prominent public standing and appeal to institutional investors.
The timing for such a move couldn’t be better as the vast majority of the in house work for the filling has already been completed as part of Prairie West’s ongoing efforts towards an entry standard designation. At the end of the day our goals are to further increase our visibility in Germany, establish ourselves as a publically traded oil & gas producer within Canada and to access a greater pool of capital that institutional investors can provide.
Over the past year Prairie West has proven itself to be an aggressive and successful junior energy company with a presence in both Canada and Germany. Every indication points to Prairie West outperforming the successes of the previous year through an accelerated growth strategy fueled by a more robust capital strategy.“
Prairie West would like the public to know that this announced 2:1 reverse split may effect a new ISIN number and that the company will issue a press release to the fact if such an occurrence takes place.
About Prairie West Ltd.:
Prairie West Oil & Gas is a producing energy company with both established production and assets within the center of Canada’s highest reserve epicenters; the oil boom provinces of Alberta and now Saskatchewan. Prairie West operates under the notion that now is the time to take advantage of favorability priced acquisitions and joint ventures while constantly striving to reduce the cost of doing business. The goal is to build for the future while remaining focused on the short term profitability that rewards early shareholders.
The experienced team at Prairie West has the expertise and proven execution required for success in today’s rapidly changing energy sector. This has been clearly demonstrated with the Maidstone acquisition, the more recent eleven well expansion located in close proximity to current production and a new 27 well producing gas play in Saskatchewan Canada.
Prairie West’s primary long-term development project is strategically placed within the highly productive Twining area which is surrounded by major multi-national energy giants such as EnCana, Suncor and Devon Energy. This project is immediately adjacent to the enormous Twining Rundle/Mannville Pool with original oil in place of 1.013 billion barrels equivalent.
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