Bayou City Exploration extends expiry of warrants from December 2004 PIPE

By Sheri Kasprzak

New York, Jan. 3 - Bayou City Exploration, Inc. said it extended the expiry of the warrants associated with a private placement closed in December 2004.

The expiry of the 13.75 million warrants was extended to June 30 from Dec. 31.

On Dec. 31, 2004, the company issued 12.5 million units at $0.20 each. The units included one share and one warrant. The warrants were exercisable at $0.50 each.

Of the warrants, 1.25 million warrants were issued as fees associated with the offering.

Houston-based Bayou City provides seismic data for oil and natural gas exploration companies.

On Tuesday, the company's stock remained unchanged at $2.00.

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