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Files Summary Report on Gas Prospects
VANCOUVER, Feb. 7 /CNW/ - (KIT - TSXV) ... Kit Resources Ltd. ("Kit" or "the Company") is pleased to announce that the change of its name, to Bayou Bend Petroleum Ltd., has been approved by the regulatory authorities. Effective with the commencement of trading on the TSX Venture Exchange on February 9, 2007, the Company's shares will trade under its new name. The new trading symbol will be "BBP".
In addition, the Company announces that it has received a summary report on the oil and gas assets that it proposes to acquire as part of its acquisition of all of the membership interests of Summit Energy Company, L.L.C. The report, entitled "Summary Report of Kit Resources Ltd.'s Interests in 15 Gas Prospects and One Re-Work Program in Marsh Island, Iberia Parish, Louisiana" was prepared for the Company by Petrotech Engineering Ltd. and will be filed on SEDAR, at www.sedar.com under the Company's profile.
On behalf of the Board
Kit Resources Ltd.
"Matthew J. Mason"
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Matthew J. Mason, President
Forward-looking statements: This document contains statements about expected or anticipated future events and financial results that are forward-looking in nature and as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, the regulatory process and actions, technical issues, new legislation, competitive and general economic factors and conditions, the uncertainties resulting from potential delays or changes in plans, the occurrence of unexpected events, and the Company's capability to execute and implement its future plans. Actual results may differ materially from those projected by management. For such statements, we claim the safe harbour for forward-looking statements within the meaning of the Private Securities Legislation Reform Act of 1995.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.