CALGARY, Oct. 24, 2014 /CNW/ - BNP Resources announces that the company is proposing that a new publicly traded sidecar company, "NewCo", be created to raise $10 million, for the development, through farm in, of the Jensen oil pool. Upon raising equity, "NewCo" will farm in on the BNP Jensen oil pool, on the basis of 100% BPO & 50% APO.
Andrew Watson, M. Phil, has been selected to lead "Newco", as President and CEO. Mr. Watson was the Vice President of Sego Resources Inc., and has over a decade of experience in the junior resource capital markets. He has his B.A. from Simon Fraser University, an M. Phil from the University of Cambridge (UK) and is working towards his CFA level 2.
Shareholders and creditors are encouraged to follow the Stockhouse Bullboards, under BNX.A, for the monthly report to shareholders.
SOURCE: BNP Resources Inc.
For further information: James Evans Doody, President and CEO, BNP Resources, Phone: 403-978-6376