New York - Medianet International-AsiaNet - Westralian Gas and Power is pleased to announce that its Level One American Depositary Receipt (ADR) program has been declared eligible by the US Securities and Exchange Commission.
The Bank of New York Mellon was appointed as the depositary bank for the ADR program.
A Level One ADR program facilitates the purchase of Westralian Gas and Power shares by US investors. It will increase the profile of the company with US investors particularly as it is seeking to expand its existing oil production in Kentucky.
Under the program, one ADR is equivalent to 200 ordinary shares of Westralian Gas and Power. The ADRs trade in the US over-the-counter (OTC) market under the ADR trading symbol WGPRY and the CUSIP number is 961436102.
About ADRs
ADRs are commonly used to facilitate US investors investing in foreign companies not listed in the USA. An ADR is created when a broker purchases a companys shares on the home stock market and delivers those to the depositarys local custodian bank, which then instructs the depositary bank, Bank of New York Mellon, to issue depositary receipts. Depositary receipts may be traded freely, just like any other security, in the over-the-counter market.
About Westralian Gas and Power Limited
Westralian Gas and Power Limited (WGP) was Western Australia's first publicly-listed energy exploration company to focus on proving-up economic reserves of coal seam methane gas in its onshore petroleum permits in the South-West of Western Australia. The company also has an interest in significant areas for conventional oil and gas in the offshore Perth Basin.
These areas are presently in joint-venture arrangements with ROC Oil Limited. In the USA, the company continues to operate a small oil field in Kentucky.
ENDS
Contact information:
Executive Chairman: Peter Briggs
+61 8 9322 6955,
+61 412 105 374
Chief Executive Officer: Stephen Thomas
+61 8 9322 6955,
+ 61 414 521 066
Website: www.westraliangasandpower.com.au
Westralian Gas and Power Limited
ACN 109 213 470
1/46 Ord Street, Wester Perth, Western Australia 6005
SOURCE: Westralian Gas and Power Limited
The Bank of New York Mellon was appointed as the depositary bank for the ADR program.
A Level One ADR program facilitates the purchase of Westralian Gas and Power shares by US investors. It will increase the profile of the company with US investors particularly as it is seeking to expand its existing oil production in Kentucky.
Under the program, one ADR is equivalent to 200 ordinary shares of Westralian Gas and Power. The ADRs trade in the US over-the-counter (OTC) market under the ADR trading symbol WGPRY and the CUSIP number is 961436102.
About ADRs
ADRs are commonly used to facilitate US investors investing in foreign companies not listed in the USA. An ADR is created when a broker purchases a companys shares on the home stock market and delivers those to the depositarys local custodian bank, which then instructs the depositary bank, Bank of New York Mellon, to issue depositary receipts. Depositary receipts may be traded freely, just like any other security, in the over-the-counter market.
About Westralian Gas and Power Limited
Westralian Gas and Power Limited (WGP) was Western Australia's first publicly-listed energy exploration company to focus on proving-up economic reserves of coal seam methane gas in its onshore petroleum permits in the South-West of Western Australia. The company also has an interest in significant areas for conventional oil and gas in the offshore Perth Basin.
These areas are presently in joint-venture arrangements with ROC Oil Limited. In the USA, the company continues to operate a small oil field in Kentucky.
ENDS
Contact information:
Executive Chairman: Peter Briggs
+61 8 9322 6955,
+61 412 105 374
Chief Executive Officer: Stephen Thomas
+61 8 9322 6955,
+ 61 414 521 066
Website: www.westraliangasandpower.com.au
Westralian Gas and Power Limited
ACN 109 213 470
1/46 Ord Street, Wester Perth, Western Australia 6005
SOURCE: Westralian Gas and Power Limited
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