TRIANGLE PETROLEUM CORPORATION (NYSEMKT:TPLM) Files An 8-K Other EventsItem 8.01 Other Events.
As previously reported in a Current Report on Form 8-K filed with the Securities and Exchange Commission on June 30, 2016, Triangle Petroleum Corporation (the “Company”) entered into a Tax Benefits Preservation Plan on June 28, 2016 (the “Plan”), which was designed to protect the Company’s ability to use certain tax assets, such as net operating loss carryforwards and built-in losses, to offset future income.
On December 9, 2016, the Board of Directors committed the Company to submit the Plan to a binding vote of its stockholders at the Company’s 2017 annual meeting of stockholders. If the Plan is not approved by the Company’s stockholders at that meeting, the Company will discontinue the Plan.
About TRIANGLE PETROLEUM CORPORATION (NYSEMKT:TPLM)
Triangle Petroleum Corporation (Triangle) is an energy holding company. The Company operates through two segments: exploration and production segment, and oilfield services segment. The focus of the exploration and production operating segment is finding and producing oil and natural gas. The focus of the oilfield services operating segment is pressure pumping and complementary services for both TUSA-operated wells and third-party-operated wells. The Company has three principal lines of business: oil and natural gas exploration, development and production; oilfield services, and midstream services. It conducts these activities in the Williston Basin of North Dakota and Montana through the Company’s subsidiaries and its equity joint venture. Triangle USA Petroleum Corporation (TUSA), the Company’s subsidiary, conducts its exploration and production operations by acquiring and developing unconventional shale oil and natural gas resources. TRIANGLE PETROLEUM CORPORATION (NYSEMKT:TPLM) Recent Trading Information
TRIANGLE PETROLEUM CORPORATION (NYSEMKT:TPLM) closed its last trading session down -0.030 at 0.273 with 3,013,376 shares trading hands.