North American Petroleum Corporation USA ("NAPCUS") Announces Distribution to Certain Class 5B Holders
TULSA , Okla., Dec. 23, 2011 /CNW/ - In accordance with the Joint Chapter 11 Plan of North American Petroleum Corporation USA and its related entities, that was confirmed on September 14, 2011 and became effective on September 30, 2011 (the "Plan"), NAPCUS's Board of Directors has decided to issue a distribution of $0.34 per share to all Plan Class 5B holders who had held less than one thousand shares of Petroflow Energy Ltd. ("Petroflow") stock, as of September 30 , 2011.
"The distribution to those Class 5B holders who held less than 1,000 shares of former Petroflow stock will provide these holders with an immediate cash recovery while allowing NAPCUS to be more efficient in future shareholder communications and reporting while continuing as a private corporation," said NAPCUS's President & CEO, Richard Menchaca.
Additional information is available by accessing NAPCUS's restructuring website at http://dm.epiq11.com/NAP.
For further information, please contact:
Louis G. Schott (918) 592-1010 Ext. 7
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