HOUSTON, TX -- (Marketwire) -- 11/14/12 -- Tenguy World International, Inc. (PINKSHEETS: TGWI) today announced that its Board of Directors has approved a stock repurchase program authorizing the Company to repurchase outstanding common stock.
The Board's action was made after careful review of the current stock price and their belief that the stock is undervalued. Under the program authorized by its Board of Directors, Tenguy may repurchase shares publically or through privately negotiated transactions. Eighty seven percent (87%) of the Company's outstanding shares are currently held as restricted shares. The extent to which Tenguy repurchases its shares and the timing of such repurchases will depend upon market conditions and other corporate considerations.
For more information on Tenguy World International, Inc. please visit http://tenguyworldint.com/.
About Tenguy World International, Inc.
The Company was originally incorporated in 1923 in the state of Colorado. Tenguy World International is an independent oil and gas company engaged in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids in the United States.
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