Biloxi Marsh Lands Corporation Announces Completion of Stock Buyback Program and Additional Purchases of Common Stock
June 09 2014 - 4:46PM
Business Wire
Biloxi Marsh Lands Corporation (PINK SHEETS:BLMC) completed its
previously announced stock buyback program with the acquisition of
a total of 67,500 shares of its common stock since the inception of
the buyback plan in September of 2008. During the course of
completing the buyback program,the opportunity to purchase
additional shares of common stock recently presented itself. We are
pleased to announce that the Company has successfully negotiated
the purchase of an additional 151,900 shares in two separate
private transactions. Since September of 2008, the total number of
shares purchased by the Company as treasury stock is 219,400. The
Company paid an average price of $12.62 for these shares of common
stock since the inception of the buyback program. As of the time of
this press release, the Company is not actively seeking to
repurchase any additional shares of its common stock.
Biloxi Marsh Lands Corporation owns approximately 90,000 acres
of marsh lands located in St. Bernard Parish, Louisiana. As the
landowner, it derives revenues from oil and gas exploration and
production activities that take place on or near the company’s
land. The Company also derives revenues from its ownership interest
in B&L Exploration, LLC and minimal revenues from surface
rentals.
The Company maintains a website, www.biloximarshlandscorp.com,
and strongly recommends that all investors and interested parties
visit the website to view historical press releases, historical
financial statements and general information.
This news release contains forward-looking statements regarding
oil and gas discoveries, oil and gas exploration, development and
production activities and reserves. Accuracy of the forward-looking
statements depends on assumptions about events that change over
time and is thus susceptible to periodic change based on actual
experience and new developments. The Company cautions readers that
it assumes no obligation to update or publicly release any
revisions to the forward-looking statements in this report.
Important factors that might cause future results to differ from
these forward-looking statements include: variations in the market
prices of oil and natural gas; drilling results; unanticipated
fluctuations in flow rates of producing wells; oil and natural gas
reserves expectations; the ability to satisfy future cash
obligations and environmental costs; and general exploration and
development risks and hazards. Readers are cautioned not to place
undue reliance on forward-looking statements made by or on behalf
of the Company. Each such statement speaks only as of the day it
was made. The factors described above cannot be controlled by the
Company. When used in this report, the words “believes”,
“estimates”, “plans”, “expects”, “should”, “hopeful”, “outlook”,
and “anticipates” and similar expressions as they relate to the
Company or its management are intended to identify forward-looking
statements.
Biloxi Marsh Lands CorporationColleen Starks, 504-837-4337
Biloxi Marsh Lands (CE) (USOTC:BLMC)
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