/PRNewswire-FirstCall/ -- Pinnacle Gas Resources, Inc. (OTCQB: PINN) announced today that it has entered into an amendment to the Agreement and Plan of Merger ("Merger Agreement") with Powder Acquisition Co. and Powder Holdings, LLC executed on
February 23, 2010
. The amendment will extend the Outside Date, as defined in Section 7.1(b)(i), from
August 23, 2010
October 29, 2010
and will provide additional time for the parties to satisfy the conditions to closing for the contemplated merger transaction.
Pinnacle Gas Resources, Inc. is an independent energy company engaged in the acquisition, exploration and development of domestic onshore natural gas reserves. It focuses on the development of coalbed methane (CBM) properties located in the Rocky Mountain region. Pinnacle holds CBM acreage in the Powder River Basin in northeastern
as well as in the Green River Basin in southern
. Pinnacle Gas Resources was founded in 2003 and is headquartered in
This press release contains forward-looking statements regarding future events and our future results that are subject to the safe harbors created under the Securities Act of 1933 (the "Securities Act") and the Securities Exchange Act of 1934 (the "Exchange Act"). All statements other than statements of historical facts included in this report regarding our financial position, business strategy, plans and objectives of management for future operations, industry conditions, and indebtedness covenant compliance are forward-looking statements. When used in this report, forward-looking statements are generally accompanied by terms or phrases such as "estimate," "project," "predict," "believe," "expect," "anticipate," "target," "plan," "intend," "seek," "goal," "will," "should," "could," "may" or other words and similar expressions that convey the uncertainty of future events or outcomes. Items contemplating or making assumptions about, actual or potential future sales, market size, collaborations, and trends or operating results also constitute such forward-looking statements.