Berens Energy Ltd.

February 24, 2010 15:09 ET

Berens Energy Ltd. Announces Results of Special Meeting

CALGARY, ALBERTA--(Marketwire - Feb. 24, 2010) - Berens Energy Ltd. ("Berens" or the "Company") (TSX:BEN) is pleased to announce that, at a special meeting held on February 24, 2010 (the "Meeting"), Berens' shareholders approved the previously announced amalgamation of the Company with PetroBakken Acquisition Ltd., a wholly-owned subsidiary of PetroBakken Energy Ltd. (the "Amalgamation"), pursuant to the amalgamation agreement dated January 4, 2010 between Berens, PetroBakken Energy Ltd. and PetroBakken Acquisition Ltd. 99.992% of the common shares of Berens that voted at the Meeting voted in favour of the Amalgamation. It is anticipated that the Amalgamation shall close and become effective on February 25, 2010.

Berens is a junior oil and gas company currently trading on the Toronto Stock Exchange. The Company currently produces and explores for oil and gas in the Western Canadian Sedimentary Basin with its primary growth areas focused in the Pembina region. The Company's strategy is to focus on profitable growth through a strategic combination of investments in exploration, development and acquisitions in western Canada.

Caution Regarding Forward-Looking Information

This press release contains forward-looking information within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, forecasts, guidance or other statements that are not statements of fact. Forward-looking information in this press release includes, but is not limited to, a statement concerning the anticipated date for the completion of the Amalgamation.

Berens has provided this anticipated date in reliance on certain assumptions that it believes are reasonable at this time, including assumptions as to the time necessary to satisfy the conditions to the completion of the Amalgamation. This date may change for a number of reasons, including the need for additional time to satisfy the conditions to the completion of the Amalgamation. The Amalgamation may be completed later than stated or not at all. Accordingly, readers should not place undue reliance on the forward-looking statement contained in this press release concerning this date.

The forward-looking statements contained in this press release are made as of the date of this press release. This cautionary statement expressly qualifies the forward-looking statements contained in this press release.

Contact Information

  • Berens Energy Ltd.
    Dan Botterill
    Chief Executive Officer
    (403) 303-3262
    Berens Energy Ltd.
    Dell P. Chapman
    Chief Financial Officer
    (403) 303-3267