HOUSTON, TX, Jan. 8, 2015 /CNW/ - Enhanced Oil Resources
Inc. (TSX-V: EOR; OTCQX: EORIF) announces that Institutional
Shareholder Services Inc. ("ISS") a leading independent proxy firm,
has recommended that shareholders of EOR vote "FOR" all of the
matters proposed in the Information Circular (the "Circular") of
EOR dated December 18, 2014 in
connection with EOR's Annual General Meeting (the "Meeting") to be
held Thursday, January 15, 2014 at
11:00am (Vancouver Time), save for
the approval of the Company's Advance Notice Policy (the "Policy")
as discussed below.
ISS has recommended that shareholders vote against the
Policy. In response to the analysis of ISS in recommending
against the approval of the Policy, EOR's (the "Board of
Directors") has approved a modification of the Policy (the "Amended
Policy"). The modification removed a limitation within the
Policy whereby a new time period for the giving of a Nominating
Shareholder's notice would not commence in certain events.
The Amended Policy allows the commencement of a new time period for
the giving of such notice in the event of an adjournment or
postponement of a meeting of shareholders, or the reconvening of
any adjourned or postponed meeting of shareholders, or the
announcement thereof.
The Board of Directors noted that advance notice provisions
adopted by Canadian companies over the past two years have
continued to evolve, and having the intent of maintaining policies
that meet the current standard of "best practices", reviewed and
amended the policy to be consistent with such practices.
The Amended Policy is effective as of the date it was
approved. The full text of the Policy is available via SEDAR
at www.sedar.com.
About Enhanced Oil Resources Inc.
Enhanced Oil
Resources Inc. is an early-stage company, with a principal goal of
increasing crude oil and natural gas production through enhanced
oil recovery and infill drilling projects it is initiating in the
Permian Basin on oil fields acquired by the Company in 2007 and
2008 for that purpose.
ON BEHALF OF THE BOARD OF DIRECTORS
Andrew Hromyk, Director
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE
EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF
THIS RELEASE
SOURCE Enhanced Oil Resources Inc.