Bridge Resources Corp. Announces Board Restructuring
January 04 2011 - 9:25AM
Marketwired
Bridge Resources Corp. (TSX VENTURE: BUK) ("Bridge") announces that
Thomas J. Stewart and Kenneth J. Yurkowski have resigned their
positions as Directors of the company.
Bridge has subsequently elected to restructure its Board of
Directors in conjunction with the sale of its North Sea Gas Area
assets and its future focus on Idaho activities. The restructuring
will result in Bridge having a core of three independent directors
and one executive director.
Mr. Stewart and Mr. Yurkowski will both continue in their
executive management roles as Vice President and Manager Operations
respectively. Mr. Stewart will also remain as Director of the
subsidiaries of Bridge.
The Bridge Board of Directors will now comprise:
Nicholas J. Clayton - Chairman
Edward J. Davies - Chief Executive Officer
Charles V. Selby
George E. Watkins
Restructuring the Board of Directors will enhance Bridge's
corporate governance and increase its effectiveness in pursuing the
Idaho exploration and development program which it operates with a
50% interest.
Bridge will also be restructuring its external professional
representation.
Statements in this press release may contain forward-looking
information including expectations of the results from divestitures
or strategic alternatives, commerciality of any discovery, future
operations, operating costs, commodity prices, administrative
costs, commodity price risk management activity, acquisitions and
dispositions, capital spending, access to credit facilities, income
and oil taxes, regulatory changes, and other components of cash
flow and earnings. The reader is cautioned that assumptions used in
the preparation of such information may prove to be incorrect.
Events or circumstances may cause actual results to differ
materially from those predicted, a result of numerous known and
unknown risks, uncertainties, and other factors, many of which are
beyond the control of the Corporation. These risks include, but are
not limited to, the risks associated with the oil and gas industry,
commodity prices and exchange rate changes. Industry related risks
could include, but are not limited to, operational risks in
development and production, delays or changes in plans, risks
associated to the uncertainty of reserve estimates, or reservoir
performance, health and safety risks and the uncertainty of
estimates and projections of production, costs and expenses. The
reader is cautioned not to place undue reliance on this
forward-looking information.
Neither 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 adequacy or
accuracy of this release.
Contacts: Bridge Resources Corp. Edward Davies 303-831-9022
ejd@bridgeep.com www.bridgeresourcescorp.com
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