VANCOUVER, Jan. 27 /CNW/ - Stream Oil & Gas Ltd. (TSX-V: SKO) (the "Company") is pleased to announce that the TSX Venture Exchange has upgraded the Company's listing to Tier One, a status reserved for the Exchange's most advanced listings. To meet Tier One standards the Company was required to demonstrate that it met higher reserves and working capital standards, and that it has the financial resources to carry out its development plans.
Dr. Sotirios Kapotas, Stream's CEO said: "We are delighted that the TSX Venture Exchange has recognized the Company's progress. This achievement reflects the quality of our assets, development strategy, strong financial position and the abilities of our leadership team."
Stream began trading as a Tier One company effective January 27, 2010.
Under the Tier One escrow release schedule, the Company's 11,250,003 remaining escrowed shares will be released from escrow within 10 days of the upgrade.
About Stream Oil & Gas Ltd.
Stream Oil & Gas Ltd. is a Canadian-based emerging oil and gas production, development and exploration company focused on the re-activation and re-development of three oil fields and a gas/condensate field in Albania. The Company's strategy is to use proven technology, incremental and enhanced oil recovery techniques to significantly increase production and reserves.
Neither 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.
SOURCE Stream Oil & Gas Ltd.
For further information: For further information: Dr. Sotirios Kapotas, President & Chief Executive Officer, P: (604) 642-6168; Danny Davis, Chief Financial Officer, P: (604) 642-6168; Email firstname.lastname@example.org; Website: www.streamoilandgas.com