TSX Exchange: BEC
CALGARY, Aug. 16 /CNW/ - Berkana Energy Corp. ("Berkana" or the
"Company") announces that its major shareholder, Murphy Oil Canada, has
announced it is considering alternatives to maximize the value of its 80%
shareholding in Berkana. Murphy has informed Berkana that it wishes to
monetize its Berkana shareholdings in order to re-invest the proceeds in
directly held opportunities in Canada. Murphy also stated that it has not yet
initiated any formal process.
Berkana's Board of Directors is in the process of forming an independent
committee of the Board to oversee this disposition from the perspective of
Berkana and its minority shareholders.
For further information:
For further information: Glenn Gradeen, CEO, email@example.com;
Robb Thompson, CFO, firstname.lastname@example.org; Berkana Energy Corp., Suite
2100, 801 Sixth Avenue S.W., Calgary, Alberta, T2P 3W2, Telephone: (403)
221-7700, Fax: (403) 221-7719, Website: www.berkanaenergy.com