NEWS RELEASE
June 15, 2007
PEARL TO COMMENCE TRADING ON
FIRST NORTH, STOCKHOLM ON JUNE 20, 2007
CALGARY, ALBERTA - Pearl Exploration and
Production Ltd.
("Pearl" or the "Company") (TSX Venture: PXX) is pleased to
announce that the Stockholm Stock Exchange has approved Pearl’s application
for trading of Swedish Depository Receipts (“SDRs”)
on the First North list of the Stockholm Stock Exchange. The SDRs will commence trading at the market opening on June
20, 2007 under the symbol “PXXS”. The Company’s common
shares will continue to trade on the TSX Venture Exchange under the symbol
“PXX”.
Each SDR will represent one issued common share
of the Company on deposit with the designated depository, E. Ohman J:or
Fondkommission AB (“Ohman”)
of Stockholm.
The SDRs will be exchangeable into common shares (and
vice versa) on a one-for-one basis. During the period June 13, 2007 to
June 21, 2007 this exchange service will be offered for free by Ohman. After the
initial free exchange period, a SEK 2100 fee will be charged. Ohman will act as sponsor
in connection with the trading of SDRs on the First
North list.
Keith Hill, President and CEO, commented,
“I’d like to extend a warm welcome to our new SDR holders. We are
excited and honoured to be trading on First North in Stockholm and look forward
to many years of growth and success."
Pearl is a rapidly growing oil and gas
company with production and development assets in Canada
and the U.S.
The Company is focused on delivering disciplined growth with an emphasis on
large resource opportunities. Additional information on Pearl is available on the Company’s
website at www.pearleandp.com.
For further information, please
contact:
|
Keith Hill - President and Chief Executive Officer
Tel.:
(604) 689-7842
Fax:
(604) 689-4250
E-mail: khill@namdo.com
|
|
Arlene Weatherdon - Chief Financial Officer
Tel.: (403)
716-4054
Fax:
(403) 265-8324
E-mail:
arlene.weatherdon@pxx.ca
|
|
Sophia Shane – Corporate Development
Tel.: (604) 689-7842
Fax: (604) 689-4250
E-mail: sophias@namdo.com
|
Forward-looking statements: This
document contains statements about expected or anticipated future events and
financial results that are forward-looking in nature and as a result, are subject
to certain risks and uncertainties, such as general economic, market and
business conditions, the regulatory process and actions, technical issues, new
legislation, competitive and general economic factors and conditions, the
uncertainties resulting from potential delays or changes in plans, the
occurrence of unexpected events, and the Company’s capability to execute
and implement its future plans. Actual results may differ materially from
those projected by management. For such statements, we claim the safe harbour for forward-looking statements within the meaning
of the Private Securities Legislation Reform Act of 1995.
The TSX Venture Exchange has
not reviewed and does not accept responsibility for the adequacy or accuracy of
this release.
