Ridgeway Petroleum retains investment banker to explore alternatives

Ridgeway Petroleum Corp., Calgary independent that controls a carbon dioxide and helium deposit in Arizona and New Mexico, said it retained an investment banking firm to help it identify options toward enhancing shareholder value.

Sept. 11, 2003

By OGJ editors
HOUSTON, Sept. 11 -- Ridgeway Petroleum Corp., Calgary independent that controls a large, mostly undeveloped carbon dioxide and helium deposit in eastern Arizona and west-central New Mexico, said it retained an investment banking firm to help it identify options toward enhancing shareholder value.

Ridgeway hired Petrie Parkman & Co., Denver, "to render financial, valuation and other investment firm services to the company as it explores strategic alternatives."

Ridgeway has been a North American oil and gas explorer since 1980. It identified the St. Johns anticline, which it calls the world's largest known accumulation of undeveloped helium and CO₂, in the early 1990s, but it has been only minimally successful in marketing the two gases.