FODL Forster Drilling Corporation's Common Stock Shares Now DTC Eligible
Business Wire - October 12, 2006 7:00 AM (EDT)
HOUSTON, Oct 12, 2006 (BUSINESS WIRE) -- Forster Drilling Corporation (OTCBB:FODL) announced today that its shares are now eligible for safekeeping with the Depository Trust Corporation.
The Depository Trust Company (DTC) is a member of the U.S. Federal Reserve System, a limited-purpose trust company under New York State banking law and a registered clearing agency with the Securities and Exchange Commission. The depository brings efficiency to the securities industry by retaining custody of some 2 million securities issues, effectively "dematerializing" most of them so that they exist only as electronic files rather than as countless pieces of paper. The depository also provides the services necessary for the maintenance of the securities it has in custody.
DTC eligibility will provide clearing and settlement efficiencies in Forster common stock shares by immobilizing securities and allowing "book-entry" changes to ownership.
Forster Drilling Corporation is a publicly traded holding company with three wholly-owned subsidiaries that are involved in contract drilling, rig component manufacturing and complete rig assembly, and participation in drilling and exploration projects with drilling customers.
SOURCE: Forster Drilling Corporation
For Forster Drilling Corporation:
The Buick Group, Toronto
Jonathan Buick, 1-877-748-0914 (toll free)
Office: 416-915-0915
Fax: 416-915-0916
jbuick@buickgroup.com
www.buickgroup.com
Copyright Business Wire 2006
