HOUSTON & NEW ORLEANS--(EON: Enhanced Online News)--Saratoga Resources, Inc. (OTCBB: SROEQ) (“Company”) announced that the Company’s ticker symbol will return to OTCBB: SROE, effective with the commencement of trading on May 18, 2010.
The change of ticker symbol reflects the Company’s emergence from bankruptcy on May 14, 2010. As previously announced, all equity holders of the Company will retain their existing shares.
Thomas Cooke, CEO of Saratoga, said, “The removal of the 'Q' from our symbol and return to our original symbol reflects our successful exit from bankruptcy and, similarly, our return to operating normalcy. We are proud that we have stayed current in our SEC reporting throughout the bankruptcy process and preserved the interests of our stockholders. Just as our holdings and operating plans laid the foundation for the overwhelming vote of our creditors supporting our plan of reorganization, we are optimistic that the investment community will find our story compelling and that the market will respond accordingly. Finally, to our stockholders I want to extend my personal gratitude for your continued belief and support of our company.”
For more information regarding Saratoga and its exit from bankruptcy please go to our web site at www.saratogaresources.net.
About Saratoga Resources
Saratoga is an independent exploration and production company with offices in Houston, Texas, and Covington, Louisiana with 30 full-time employees, supplemented by field-based contract operations personnel. Principal holdings cover 33,625 gross (32,527 net) acres, mostly held-by-production, located in the state waters offshore Louisiana. Saratoga's stock currently trades on the OTC Bulletin Board under the symbol "SROEQ".