By: banshee on Martedì 18 Novembre 2003 19:02
Usciamo subito subito da BETA a 1,95 $.
Appena notata 'sta bella notizia del c....
TULSA, Okla., Nov 18, 2003 (BUSINESS WIRE) -- Beta Oil & Gas, Inc. ("Company" or "Beta") (BETA) announced that it has entered into a non-binding letter of intent with Petrohawk Energy, LLC, ("Petrohawk"), a privately held independent exploration and production company based in Houston, Texas, pursuant to which it is proposed that Petrohawk acquire a total of $60,000,000 in the Company's common stock, warrants and a convertible note. If the proposed transaction is consummated, Petrohawk will pay $25,000,000 for 15,151,515 shares of the Company's common stock and 10,000,000 five-year common stock purchase warrants, exercisable at a price of $1.65 per share. The letter of intent contemplates that the convertible note will be an unsecured five-year obligation in the amount of $35,000,000, with interest payable at 8% per annum, and will be convertible after two years into common stock at a conversion price of $2.00 per share. The letter of intent also contemplates that the Company's Board of Directors will be controlled by designees of Petrohawk and its investors immediately following the consummation of the transaction.
SHAME ON THEM!!!