Berens Energy Ltd. announces that its Board of Directors has initiated a process to explore strategic alternatives, with a view to enhancing shareholder value. The Company has engaged Peters & Co. Limited to provide financial advisory and investment banking services to assist in this process.
"Our Board of Directors and management team are committed to enhancing value for our shareholders", said Dan Botterill, Berens' Chief Executive Officer. "We have built a strong foundation to deliver value to our shareholders. We believe this is the right time for us to explore our strategic alternatives for enhancing value and building upon our accomplishments."
Berens does not intend to disclose developments with respect to the strategic review process unless and until the Board of Directors has approved a definitive transaction or strategic option, unless otherwise required by law. The Company cautions that there are no guarantees that the strategic alternative review will result in a transaction or if a transaction is undertaken, as to its terms or timing.
Berens Energy Ltd. is a junior oil and gas company currently trading on the Toronto Stock Exchange. The Company currently produces and explores for oil and gas in the Western Canadian Sedimentary Basin with its primary growth areas focused in the Pembina region. The Company's strategy is to focus on profitable growth through a strategic combination of investments in exploration, development and acquisitions in western Canada.