Business
Petrolifera Petroleum Discloses Executive Chairman's Involuntary Share Sale
CALGARY, Oct. 13 /CNW/ - Petrolifera Petroleum Limited (PDP - TSX) today disclosed that its Execu...
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[{"type":"text","content":"\n\n\n\nCALGARY, Oct. 13 /CNW/ - Petrolifera Petroleum Limited (PDP - TSX) today\ndisclosed that its Executive Chairman, Richard A. Gusella, involuntarily sold\na significant percentage of his common share holding in Petrolifera since\nOctober 3, 2008 in order to meet margin loan calls.\n\n\nMr. Gusella has advised the company's Board that he is "very disappointed\nto have been required to sell any shares of Petrolifera involuntarily but the\nsales were obviously triggered by the unprecedented deterioration in capital\nmarkets triggered by the worldwide credit and ensuing financial crisis. I have\nbeen a substantial individual shareholder of Petrolifera since the company was\nformed in 2004 and recently added to my shareholding position through a\nconsiderable dollar value purchase of additional shares from the company's\nlast new issue in June 2008, at much higher prices than today. My confidence\nin Petrolifera and its outlook obviously remains undiminished and I anticipate\nagain adding to my holdings as circumstances permit in the future."\n\n\nPetrolifera Petroleum is a Calgary-based crude oil and natural gas\nexploration and production company engaged in activity in Argentina, Colombia\nand Peru, all in South America.\n\n\n","length":1296,"tagName":"div"}]