SOURCE: Palisades Petroleum

August 26, 2010 06:00 ET

Palisades Petroleum (PAPT.PK) Updates Shareholders

ANN ARBOR, MI--(Marketwire - August 26, 2010) -  Palisades Petroleum (PINKSHEETS: PAPT) President and CEO, Brad Hayosh states the following: "We are pleased to announce that we have finished our preliminary efforts to bring Palisades current with its state filings as well as with the transfer agent.

"The next step is to bring our status with Pinksheets to the Current Information threshold which we are currently working on. Our goal is to improve transparency and liquidity for all of our shareholders. Furthermore, we plan on a name and symbol change to reflect our new business strategy."

Brad Hayosh further comments, "As we move forward, we will not be reverse splitting our shares for the foreseeable future so current and potential shareholders can have confidence in our capital structure.

"Finally, we are working on several exciting acquisitions in the distressed asset space. As we firm up details, more information will be released."

Contact Information

  • Contact:
    Palisades Petroleum
    Bradley J. Hayosh
    President and CEO
    Email Contact