More information about the open season will be available on March 4th on the BKEP website at http://www.
BKEP provides integrated services for companies engaged in the production, distribution and marketing of crude oil, asphalt and other petroleum products.
25 per unit) necessarily meant that Vitol's ability to earn meaningful cash distributions from BKEP would be limited until these contractual obligations to the limited partners were satisfied.
After a year of little business progress (other than the imposition on BKEP of what appear to be highly off-market pipeline transportation agreements for Vitol's benefit), you apparently have decided that you are unwilling to wait while BKEP satisfies its contractual obligations to its limited partners as provided for in Blueknight's Partnership Agreement.
The preferred shares were issued at a commercially unreasonable 30% discount to the then-trading price of BKEP units (which already reflected, we believe, a significant discount to BKEP's intrinsic value) and carry an annual 8.
BKEP has approximately 30% ownership and operates the pipeline under a long-term service agreement with Advantage.
Mark Hurley, BKEP Chief Executive Officer, stated further, "We commend Advantage Pipeline for delivering this key project on time and within budget.
Investors and interested parties can access a copy of the presentation from the BKEP
website at www.
In connection with the agreement, BKEP
will construct a 65-mile pipeline from southern Oklahoma to Wynnewood, Oklahoma, where it will intersect with an existing BKEP
The DAACM (Direct Airfield Attack Combined Munition) comprises Ferranti HB876 minelets and Avco Systems BKEPs
(Boosted Kinetic Energy Penetrators).