TULSA, Okla., Oct. 27 /PRNewswire/ -- American Natural Energy Corporation ("ANEC") (TSX Venture: ANR.U) announced that its previously announced one-for-ten reverse split of its outstanding shares of common stock became effective at 12:01 AM EDT today. As a consequence of the reverse split, ANEC's outstanding shares of common stock have been reduced to approximately 13,430,600 from 134,306,080 shares.
The principal reason for effecting the reverse split is management's belief that the public market for ANEC's common stock will be improved, however, there can be no assurance that this will occur. There has been no change in ANEC's corporate name in connection with the reverse split.
ANEC is a Tulsa, Oklahoma based independent exploration and production company with operations in St. Charles Parish, Louisiana. For further information please contact Michael Paulk, CEO at 918-481-1440 or Steven P. Ensz, CFO at 281-367-5588.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This Press Release may contain statements which constitute forward-looking statements within the meaning of the US Private Securities Litigation Reform Act of 1995, including statements regarding the plans, intentions, beliefs and current expectations of ANEC, its directors, or its officers with respect to the future business, well drilling and operating activities and performance of ANEC. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties. The actual results and outcome of events may differ materially from those in the forward-looking statements as a result of various factors. The levels of and fluctuations in the prices for natural gas and oil and the demand for those commodities, the outcome of ANEC's development and exploration activities, including the success of its current and proposed well drilling activities and the availability of capital to pursue those activities could affect ANEC and its future prospects. Important additional factors that could cause such differences are described in ANEC's periodic reports and other filings made with the Securities and Exchange Commission and may be viewed at the Commission's Website at http://www.sec.gov.
SOURCE American Natural Energy Corporation