Business
PETROLIFERA ANNOUNCES THIRD QUARTER RESULTS
PETROLIFERA ANNOUNCES THIRD QUARTER RESULTS
About this update from Medexus Pharmaceuticals Inc.
[{"type":"text","content":"\n\n\n\n Nov. 3, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\nCALGARY, Nov. 3 /CNW/ - Petrolifera Petroleum Limited (PDP - TSX) today announced its financial and operating results for the three months ("Q3") and the nine months ended September 30, 2010.\n\n\n\n >\n\n\nOn September 7, 2010 we announced that our Board of Directors had initiated a process to review Petrolifera's business plan and to identify, examine and consider a range of strategic alternatives available to the company for enhancing shareholders' value. Among other things, this may include exploring potential asset divestments and joint ventures, a corporate sale or business combination, evaluation of financing and recapitalization opportunities or other alternatives to increase shareholders' value. The Board of Directors determined that it was an appropriate time to assess strategic options following a thorough review of current operations, the exploration opportunities, contractual obligations and capital requirements to exploit the company's lands in Argentina, Colombia and Peru and an evaluation of the company's current financial position.\nThe process of reviewing strategic alternatives is being overseen by a Special Committee of three independent directors: K. Andrew Gustajtis, Gordon H. Johnston and Christopher J. Smith. Mr. Smith, who is also Chairman of the Audit Committee of the Petrolifera Board, is serving as Chair of the Special Committee. The Special Committee has a m...