LEXINGTON, Ky., March 15 /PRNewswire/ -- Daugherty Resources, Inc.
(Nasdaq: NGAS), a Kentucky based natural resources company, said that
effective today, its symbol has changed to NGAS.
The removal of the "F" was requested by Daugherty Resources and approved
by Nasdaq. The action was based upon the February 19, 1999, Securities and
Exchange Commission's decision to grant immediate effectiveness to a rule
change proposed by the National Association of Securities Dealers, Inc. to
discontinue the general practice of affixing an "F" or a "Y" to the symbol of
foreign securities and American Depositary Receipts that trade on The Nasdaq
Stock Market.
Daugherty Resources, Inc. has filed an S-4 Registration Statement with the
Securities and Exchange Commission ("SEC") requesting approval of its plan to
change the Company's domicile from British Columbia to Delaware. Daugherty
Resources expects to receive comments from the SEC regarding the S-4 after the
Company has supplemented the filing with its 1998 10-KSB.
Daugherty Resources, Inc. is a natural resources development company with
interests in oil and gas development, wood products manufacturing and gold
mining prospects.
The information in this release includes certain forward-looking
statements that are based on assumptions that in the future may prove not to
have been accurate. Those statements, and Daugherty Resources and its
subsidiaries are subject to a number of risks, including production variances
from expectations, volatility of product prices, the capital expenditures
required to fund its operations, environmental risks, competition, government
regulation, and the ability of the company to implement its business strategy.
These and other risks are described in the company's documents and reports
that are available from the company and the United States Securities and
Exchange Commission.
SOURCE Daugherty Resources, Inc.
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CONTACT:
William S. Daugherty, President of Daugherty
Resources, Inc., 606-263-3948, or fax, 606-263-4228
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