Business
Ironhorse Oil & Gas Inc. - Engages Macam Investor Relations Firm
Ironhorse Oil & Gas Inc. - Engages Macam Investor Relations Firm
About this update from Pond Technologies Holdings Inc.
[{"type":"text","content":"\nIronhorse Oil & Gas Inc. - Engages Macam Investor Relations Firm\n\n\n Oct. 13, 2009 (Filing Services Canada) -- Ironhorse Oil & Gas Inc. (IOG - TSX Venture), is pleased to announce that it has retained Macam Limited (\"Macam\") to provide investor relations and corporate communication services. Macam's investor relations objectives include increasing Ironhorse's profile and corporate initiatives within the financial community by reaching key retail and institutional investor groups. Ironhorse has retained Macam for a period of one year, at an average monthly fee of $7,300. In addition, subject to regulatory approval, Macam will be granted a stock option at a later date, in accordance with the Company's stock option plan. Except as set forth in the agreement, Ironhorse is not aware of Macam having any other interest, directly or indirectly, in the Company, or any right or intent to acquire an interest. About Macam Macam is a Calgary-based investor relations firm which has been providing investor relations activities for over eight years to burgeoning companies such as Ironhorse, utilizing their in-house customized database of retail and institutional contacts in the investment community.About Ironhorse Ironhorse is currently producing 1,050 boe per day primarily from its Shackleton gas property in Saskatchewan. To date the Company has undertaken a $7 million capital expenditure program to drill, complete and place on production 32 (16 net) gas wells in Shackleton and to drill two (0.4 net) Nisku oil wells in Pembina. The Pembina oil wells are expected to be placed on production in 2010 and will increase Ironhorse's net production by over 800 boe per day. The Company's independent reserves evaluation as at July 31, 2009 estimated its proved plus probable reserves at 4.4 million boes with a before tax value discounted at ten percent of $72 million resulting in a net asset value net of debt of $2.77 per share (see the September 8, 2009 press release). The Company is well financed and uniquely positioned to increase production, cash flow and reserves from its significant multi-year development drilling opportunities and high impact exploration projects. For further information, please contact:Rob SolingerVP Finance & CFO(403) [email protected] or visit our website at www.ihorse.ca -and/or-Macam\t Investor Relations\t...