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Open Range Energy Corp. (TSE:ONR) reports the creation of high-growth and dividend-paying energy service and supply company.
Open Range Energy Corp. (TSX:ONR) reports the creation of high-growth and dividend-paying energy service and supply company.
The press release is quoted as saying:
Under the proposed Arrangement Agreement (the “Arrangement”), Open Range’s wholly-owned subsidiary, Poseidon Concepts, will become an independent, sustainable, pure-play, dividend-paying company (“Poseidon”) while Open Range, formed as a new legal entity for the purposes of the Arrangement, will continue to grow its high-quality Deep Basin exploration and production (E&P) assets in a separate publicly-traded company with a target to exit 2011 at 6,200 boe per day.
Click here to access the entire press release
