Biloxi Marsh Lands Corporation Announces Plans to Repurchase Common Stock
September 14 2011 - 4:47PM
Business Wire
During its meeting held on Tuesday, September 13, 2011 the Board
of Directors of Biloxi Marsh Lands Corporation (PINK SHEETS:BLMC)
re-authorized the purchase of up to 27,500 shares of its
outstanding common stock. The purchases will be made from time to
time on the open market at the sole discretion of the Company. All
shares purchased will be held as Treasury stock.
The Company previously announced a stock buyback program in
September 2008. This buyback program authorized the purchase of
27,500 shares of its common stock of which 13,000 shares were
purchased.
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 (CE) (USOTC:BLMC)
Historical Stock Chart
From Jun 2024 to Jul 2024
Biloxi Marsh Lands (CE) (USOTC:BLMC)
Historical Stock Chart
From Jul 2023 to Jul 2024