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PetroBakken adjusts conversion price for 3.125% convertibles due 2016
By Toni Weeks
San Luis Obispo, Calif., Sept. 25 - PetroBakken Energy Ltd. adjusted the conversion price for its 3.125% senior convertible bonds due 2016, according to a notice from trustee Norsk Tillitsmann ASA.
Effective Sept. 1, the adjusted conversion price is $30.3471.
The adjustment is due to monthly C$0.08 distribution payments made from January 2010 to the end of August.
PetroBakken is an oil and gas exploration and production company based in Calgary, Alta.
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