http://www.iperdue.com/mercato/773-65.html
Houston-based Particle Drilling (OTCBB: PDRT) said in a regulatorgy filing issued May 27 that the oil and gas drillinv services company will terminate eight employees and put an unidentified number of remainintg employees onunpaid furlough. “The companu expects to file for bankruptcy early next week abseny asuitable alternative,” officials said in a statement. Accordinv to a recent regulatory filing, Particlre Drilling had 19 employeezs at the end of 2008 and has piled up lossea of morethan $45 million since its formatio in 2003.
The board has formed a three-member executive committe e and has hired Parks PatonHoepfl & Browhn LLP to assist the company in exploringv strategic options. Company officials could not be reachedfor comment. The NASDAQ Stock Market notifieed the company earlier this month that it would delisg its shares effectiveMay 12. The shares have subsequentlyg been trading over the Particle Drilling owned several patents related to a drillinbg technology designed to enhancethe rate-of-penetratiomn function in the drilling process, especiallty in hard rock environments.
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