Attached files
| file | filename |
|---|---|
| 8-K/A - INCREASE AND EXTENSION OF STOCK BUYBACK PROGRAM - EARTHSTONE ENERGY INC | e8-ka.htm |
Press
Release
BASIC
EARTH EXTENDS
SHARE REPURCHASE PROGRAM
DENVER, COLORADO – BASIC EARTH
SCIENCE SYSTEMS, INC. (OTCBB:BSIC) announced that its Board of Directors
has approved an extension of its share buyback program. The program
was originally announced in October 2008 and enabled the Company to purchase up
to 500,000 shares of its outstanding common stock over an eighteen month
period. The program has been conducted on the open market and in
private transactions at prevailing market prices. Through December
31, 2009, Basic
Earth had repurchased 283,015 shares of its common stock at an average price of
$0.76 per share. In November 2009, the Board approved a resolution to
increase the number of shares the Company can repurchase to 1.5 million, and on
February 10, 2010, the Board extended the termination date of the program from
April 22, 2010 to October
22, 2011.
Basic
Earth is an independent oil and gas exploration and production company with
primary operations in the Williston Basin, the Denver-Julesburg Basin in
Colorado, southern Texas and the Gulf Coast area. Basic Earth is
traded on the Over The Counter Bulletin Board under the symbol
BSIC. Information on Basic Earth can be found at its web site: www.basicearth.net.
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