2009-01-21:T06:52
Corporate Update
Artumas Group Inc., (OSE:AGI), the independent oil and gas exploration and production company today issues a corporate update. This includes the Company's progress in:
continuing negotiations on the sell down of a portion of its assets;
advancing operational developments;
reducing ongoing costs and capturing efficiency gains throughout the Company;
Reduction of approximately 60% in Field Operations costs
Immediate 40% reduction in corporate head office employees; with further staff reductions anticipated by end Q1 2009, and
Convertible Bonds Series 1, USD 20 MM, paid in full on maturity date of 16 January 2009.
Please see attached document for the Company's full news release with details on the Corporations' developments.
Lien vers article complet
http://hugin.info/136496/R/1283704/287482.pdf
Corporate Update
Corporate Update
Artumas Group Inc., (OSE:AGI), the independent oil and gas exploration and production company today issues a corporate update. This includes the Company's progress in:
continuing negotiations on the sell down of a portion of its assets;
advancing operational developments;
reducing ongoing costs and capturing efficiency gains throughout the Company;
Reduction of approximately 60% in Field Operations costs
Immediate 40% reduction in corporate head office employees; with further staff reductions anticipated by end Q1 2009, and
Convertible Bonds Series 1, USD 20 MM, paid in full on maturity date of 16 January 2009.
Please see attached document for the Company's full news release with details on the Corporations' developments.
Lien vers article complet
http://hugin.info/136496/R/1283704/287482.pdf
Corporate Update