Saratoga Resources, Inc. (NYSE AMEX:
) announced today that members of its senior management team will ring the bell to open the trading session at the New York Stock Exchange on Wednesday, January 11, 2012 at 9:30 a.m. EST. Representing Saratoga at the event will be Chairman of the Board and Chief Executive Officer, Thomas Cooke; President, Andy Clifford; and Chief Financial Officer, Michael Aldridge. The Opening Bell ceremony can be viewed live on several business television channels including Fox Business and CNBC.
Mr. Thomas Cooke, Chairman and CEO, said, “We are honored that the New York Stock Exchange has invited our company to open the market. Our listing on the NYSE Amex, in July 2011, culminated a remarkable period in our company’s history and laid the foundation for what we believe is a most exciting future. We are excited to be entering a new year for the first time positioned to fully realize the value of our asset base, an asset base that includes a large inventory of PDNP and PUD opportunities. Even more so, we are excited about our deep and ultra-deep prospects in Grand Bay and Vermilion 16. We believe these prospects are strategically located within a burgeoning play in the shallow state waters of the Gulf of Mexico and offer substantial upside potential. We are in negotiations with a major operator in the ultra-deep play to form a joint venture to explore one or more of those prospects. While our stock, on a net asset value per share basis, continues to trade at a discount to industry valuations, we are pleased that our efforts over the past several years have not gone unnoticed with our market capitalization increasing from less than $35 million just over a year ago to more than $190 million at year-end 2011. As the market becomes aware of our story, we are confident that our valuation will come in line with market valuations and reflect what we expect will be growing reserves, production and profitability.”