PetroBakken Energy Ltd.
TSX : PBN

PetroBakken Energy Ltd.
Berens Energy Ltd.
TSX : BEN

March 01, 2010 19:12 ET

Berens Energy Shares to Be De-Listed From the TSX

CALGARY, ALBERTA--(Marketwire - March 1, 2010) - PetroBakken Energy Ltd. ("PetroBakken" or the "Company") (TSX:PBN) and Berens Energy Ltd. ("Berens") (TSX:BEN) are pleased to confirm that the common shares of Berens will be de-listed from the Toronto Stock Exchange ("TSX") at the close of business on Tuesday, March 2, 2010. The de-listing of Berens common shares from the TSX is being completed as a result of the amalgamation of Berens and PetroBakken Acquisition Ltd. (a wholly owned subsidiary of PetroBakken) completed on February 25, 2010, whereby PetroBakken effectively acquired all of the issued and outstanding common shares of Berens.

The amalgamation was approved at the special meeting of Berens shareholders held on February 24, 2010, with 99.99% of the votes cast by the Berens shareholders present at the meeting in person or by proxy voting in favour of the special resolution to approve the amalgamation.

PetroBakken Energy Ltd. is a premier light oil production company combining, high growth, long-life Bakken reserves and production with legacy conventional light oil assets, delivering industry leading operating netbacks, strong cash flows and production growth. PetroBakken has a multi-year inventory of Bakken and light oil development locations, along with significant future development opportunities in the Horn River and Montney gas resource plays in northeast BC and the Cardium in Alberta. Our strategy is to deliver accretive production and reserves growth, along with an attractive dividend yield.

Berens Energy Ltd. is a junior oil and gas company that produces and explores for oil and gas in the Western Canadian Sedimentary Basin with its primary growth areas focused in the Pembina region.

Contact Information

  • PetroBakken Energy Ltd.
    John D. Wright
    Chairman of the Board and Chief Executive Officer
    (403) 750-4400
    or
    PetroBakken Energy Ltd.
    R. Gregg Smith
    President and Chief Operating Officer
    (403) 750-4400
    or
    PetroBakken Energy Ltd.
    Corey C. Ruttan
    Executive Vice President and Chief Financial Officer
    and Director
    (403) 750-4400
    or
    PetroBakken Energy Ltd.
    Peter D. Scott
    Vice President, Finance
    (403) 750-4400
    or
    PetroBakken Energy Ltd.
    Bill A. Kanters
    Vice President Business Development and Corporate Planning
    (403) 750-4400
    ir@petrobakken.com
    www.petrobakken.com