Lonestar Resources Begins Trading on OTCQX®
NEW YORK, June 2, 2014 /PRNewswire/ -- OTC Markets Group Inc. (OTCQX: OTCM), operator of Open, Transparent and Connected financial marketplaces, today announced that Lonestar Resources, Ltd.http://www.otcmarkets.com/stock/LNREF/quote (ASX: LNR; OTCQX: LNREF), an oil and gas exploration company based in Fort Worth, Texas, has been approved to trade on OTCQX®, the best marketplace with qualified companies.
Lonestar's ordinary shares begin trading today on OTCQX under the symbol "LNREF." U.S. investors can find current financial disclosures and Real-Time Level 2 quotes for the company on www.otcmarkets.com.
"We are pleased to welcome Lonestar to OTCQX," said R. Cromwell Coulson, President and CEO of OTC Markets Group. "Trading on OTCQX enables Lonestar to provide its U.S. investors transparent trading and convenient access to its news and disclosure so they can more easily analyze, value and trade its securities. We look forward to working with Lonestar as they continue to enhance value for its shareholders."
"Lonestar is at an exciting stage in its development having recently completed a strategic transaction in the Eagle Ford which expanded its net leasehold position in the Eagle Ford Shale play to over 23,000 acres, and established substantial liquidity in the form of its $220 million Senior Unsecured Note Offering," stated Frank D. Bracken, III, Lonestar's CEO.
Cowen and Company serves as Lonestar's Principal American Liaison ("PAL") on OTCQX, responsible for providing professional guidance on OTCQX requirements.
About Lonestar Resources, Ltd.
Lonestar Resources, Ltd. is a leading independent oil and gas company involved in exploration, production, and acquisition of unconventional oil and gas reserves. Our company's growth is focused on the Crude Oil Window of the Eagle Ford Shale, where we anticipate spending 95% of our capital for the next several years on our leasehold which currently exceeds 23,000 net acres. Lonestar is also evaluating the resource potential of its 50,000 acre block in the Williston Basin.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates Open, Transparent and Connected financial marketplaces for 10,000 U.S. and global securities. Through our OTC Link® ATS, we directly link a diverse network of broker-dealers that provide liquidity and execution services for a wide spectrum of securities. We organize these securities into marketplaces to better inform investors of opportunities and risks – OTCQX®, The Best Marketplace; OTCQB®, The Venture Stage Marketplace; and OTC Pink®, The Open Marketplace. Our data-driven platform enables investors to easily trade through the broker of their choice at the best possible price and empowers a broad range of companies to improve the quality and availability of information for their investors. To learn more about how we create better informed and more efficient financial marketplaces, visit www.otcmarkets.com.
OTC Link ATS is operated by OTC Link LLC, member FINRA/SIPC and SEC regulated ATS.
SOURCE OTC Markets Group Inc.