Teton Petroleum Announces Annual Meeting Results
July 16 2004 - 4:35PM
PR Newswire (US)
Teton Petroleum Announces Annual Meeting Results DENVER, July 16
/PRNewswire-FirstCall/ -- Teton Petroleum Company ("Teton")
(AMEX:TPE), an independent oil and gas exploration and production
company, today announced the results of the Annual Meeting of
Shareholders. (Logo:
http://www.newscom.com/cgi-bin/prnh/20030611/TETONLOGO ) A
plurality of the outstanding voting stock of the Company voted in
favor of the reelection of each of the 5 directors; H. Howard
Cooper, Karl F. Arleth, James J. Woodcock, Thomas Conroy, and John
T. Connor, Jr. A majority of votes cast at the Annual Meeting of
Shareholders also voted in favor of the ratification of the
appointment of Ehrhardt Keefe Steiner & Hottman PC to audit the
financial statements of the Company and its subsidiaries for the
year 2004. Of the non routine proposals, a majority of votes cast
at the Annual Meeting of Shareholders voted in favor of the 2004
Non-Employee Stock Compensation Plan and the issuance of common
stock or securities convertible into or exercisable for common
stock. A majority of the outstanding stock of the Company voted in
favor of the sale of the Company's indirect interest in Goloil. "We
believe the decision to sell Goloil was a decisive step, which was
in the best interests of our shareholders. It now paves the way for
Teton to redeploy cash in order to affect new acquisitions and for
future growth. In the interim, the transaction substantially
strengthens our balance sheet," stated Karl F. Arleth, President
and CEO. Further information on each of the proposals as well as
the presentation from today's Annual Meeting of Shareholders are
available online at http://www.tetonpetroleum.com/. This news
release may contain certain forward-looking statements, including
declarations regarding Teton and its subsidiary's expectations,
intentions, strategies and beliefs regarding the future. All
statements contained herein are based upon information available to
Teton's management as at the date hereof and actual results may
vary based upon future events, both within and without the control
of Teton's management.
http://www.newscom.com/cgi-bin/prnh/20030611/TETONLOGO
http://photoarchive.ap.org/ DATASOURCE: Teton Petroleum Company
CONTACT: Gillian Kane, Vice President, Investor Relations,
+1-970-870-1417, Web site: http://www.tetonpetroleum.com/
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