Open Range Energy Corp. Announces Creation of High-Growth

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