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Great Northern Oilsands Inc. Announces Management Strategy Including Stock Split Update Friday March 30, 9:45 am ET (OTC:GNNO:PK)
VANCOUVER, March 30 /PRNewswire-FirstCall/ - Great Northern Oilsands Inc. ("Great Northern" or the "Corporation") is pleased to announce the corporation's management strategy following the forward split of 50 to 1 with the effective date of April 16, 2007 which was recently announced on March 26, 2007. Great Northern's strategy will continue the work program to prove up the contingent resource reserves it has recently acquired and in addition it plans to increase growth through corporate and property acquisitions, farm-ins, joint ventures complimented by conventional exploration and developmental drilling. Great Northern will maintain an oil and gas focus as there is a very healthy medium and long-term outlook for North American demand and it will continue to evaluate acquisition targets under the criteria of sound economics and close fit within the current property portfolio. ADVERTISEMENT
Great Northern's President David Lane said:
"Great Northern is excited to have the properties which were recently acquired and will continue to focus on acquiring other oil sands assets and additional conventional oil and gas opportunities".
Certain statements in the release are forward-looking statements or information (collectively "Forward-Looking Statements"), within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended, and Section 27A of the United States Securities Act of 1933, as amended. We are hereby providing cautionary statements identifying important factors that could cause our actual results to differ materially from those projected in these Forward-Looking Statements. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as "will likely result," "are expected to," "will continue," "is anticipated," "estimated," "intend," "plan," "projection," "could," "vision," "goals," "objective" and "outlook") are not historical facts and may be forward-looking and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in the Forward-Looking Statements.
CONTACT: David Lane, Great Northern Oilsands Inc., President and Chief Executive Officer, email: info*greatnorthernoilsands.ca; Investor Relations, Great Northern Oilsands Inc., Email: info*greatnorthernoilsands.ca, Telephone (604) 646-5625, Facsimile (604) 688-1817
-------------------------------------------------------------------------------- Source: Great Northern Oilsands Inc.
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