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MNH

0.00
0.00 (0.00%)
Share Name Share Symbol Market Type
TSXV:MNH TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

MENA Hydrocarbons Proposes Share Consolidation

05/03/2014 1:00pm

Marketwired Canada


MENA Hydrocarbons Inc. ("MENA" or the "Company") (TSX VENTURE:MNH) is pleased to
announce the following corporate update.


AGM timing and Proposed Consolidation

The Company intends to hold an annual meeting of shareholders in the late spring
of 2014. As part of the annual and special meeting shareholders will be asked to
approve the consolidation of the Company's shares on a range of up to 25 old
shares for each 1 post-consolidation share (the "Consolidation") or such lesser
whole number of pre-consolidation Common Shares that the directors of the
Company in their discretion may determine, with the Consolidation to be
implemented by the Board at any time following shareholder approval. This
Consolidation remains subject to all required regulatory approvals, including
both TSX Venture Exchange ("TSXV") approval and shareholder approval. The number
of outstanding stock options and warrants of the Company will similarly be
adjusted by the consolidation ratio, and the exercise prices adjusted
accordingly. 


The Company's directors believe the Consolidation is necessary for the following
reasons: 




1.  Merger or acquisition proposals to acquire new projects based on share
    consideration are hampered by the need to issue very large amounts of
    stock to effect any transaction.
      
2.  TSXV rules are designed to encourage public companies to maintain price
    per share trading ranges above $0.05 per share through minimum share and
    warrant equity issue rules. At this time the number of shares
    outstanding makes it difficult to sustain higher share prices. This low
    share price range results in material limitations on the Company's
    ability to finance future projects through equity or convertible debt
    issues.



About MENA Hydrocarbons

MENA Hydrocarbons is an international oil and gas company focused on growing an
asset base of production, development and high impact exploration in the Middle
East and North Africa region. In Egypt, MENA owns and operates the development
lease for the Lagia oil field, a 32 square kilometer onshore block located on
the Sinai Peninsula, directly adjacent to the Gulf of Suez. In Syria, MENA owns
a 30% participating interest in Block 9 in Syria, a 10,032 square kilometer
onshore block prospective for crude oil, natural gas and condensate. In the
United States, MENA owns 6,242 gross acres (with an 81.2% average working
interest) in Northwestern Montana with light/medium oil reserves MENA's shares
currently trade on the TSX Venture Exchange under the symbol "MNH".


Forward-looking Information

This news release contains forward-looking information relating to planned
development and exploration activities on the properties in which the Company
has interests and our financial position. Such forward looking information is
subject to important risks, uncertainties and assumptions. The results or events
predicated in this forward-looking information may differ materially from actual
results or events. As a result, you are cautioned not to place undue reliance on
these forward-looking information. 


Forward-looking information is based on certain factors and assumptions
regarding, among other things, the Company maintaining its stock exchange
listing; the availability of financing on acceptable terms or at all and the
timing such financing is needed; the general stability of the economic and
political environments in which the Company operates or owns interests; the
timely receipt of any required regulatory approvals; the ability of the Company
to obtain qualified staff, equipment and services in a timely and cost efficient
manner; drilling results; the ability of the operator of the projects which the
Company has an interest in to operate the field in a safe, efficient and
effective manner; field production rates and decline rates; the timing and costs
of pipeline, storage and facility construction and expansion and the ability of
the Company to secure adequate product transportation; future oil and natural
gas prices; currency, exchange and interest rates; the regulatory framework
regarding royalties, taxes and environmental matters in the jurisdictions in
which the Company operates; the ability of the Company to successfully market
its oil and natural gas products, and other similar matters. While the Company
considers these assumptions to be reasonable based on information currently
available to it, they may prove to be incorrect. 


Forward looking-information is subject to certain factors, including risks and
uncertainties that could cause actual results to differ materially from what is
currently expected. These factors include risks associated with the Company's
ability to successfully maintain its stock exchange listing, the availability of
capital on acceptable terms or at all and the timing such capital is needed,
instability of the economic and political environments in which the Company
operates or owns interests, oil and gas exploration, development, exploitation,
production, marketing and transportation, loss of markets, volatility of
commodity prices, currency fluctuations, imprecision of reserve estimates,
environmental risks, competition from other producers, inability to retain
drilling rigs and other services, incorrect assessment of the value of
acquisitions, the inability to settle the definitive terms of the farmout
arrangements, failure to realize the anticipated benefits of acquisitions,
delays resulting from or inability to obtain required regulatory approvals and
ability to access sufficient capital from internal and external sources,
reliance on key personnel, regulatory risks and delays, including risks relating
to the acquisition of necessary licenses and permits, environmental risks and
insurance risks.


You should not place undue importance on forward-looking information and should
not rely upon this information as of any other date. While the Company may elect
to, the Company is under no obligation and does not undertake to update this
information at any particular time, except as required by law.


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequate or accuracy of this release. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
MENA Hydrocarbons Inc.
Magdy Bassaly
President and Chief Executive Officer
+1(714) 713-6534 or Cell 2 01 222 101582
m.yousef@menahc.com
www.menahydrocarbons.com


MENA Hydrocarbons Inc.
5 Hassan Hafez Street
Saraia Elqoba, Cairo Egypt

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