Bridge Energy morphs into Idaho Natural Resources after paying its bills

Bridge Resources Corp. fades away after it discovered the first oil and natural gas fields in Idaho.

The Canadian company’ 2010 discovery was much heralded when it found natural gas in seven holes drilled in Payette County. But like many entrepreneurs it was not destined to be the master of its ingenuity.

It sold most of its Idaho assets to pay off its creditors after the sale of its North Sea operations didn’t bring as much as it had hoped. Struggling with major banks in the middle of a European debt crisis during the largest financial crisis since the Great Depression was too much for a company struggling to turn its discoveries into a productive natural gas field.

Last week, the company that bought its assets, AM Idaho revealed itself. Bridge, now Idaho Natural Resources, which still holds in interest in the gas fields, announced it had paid off all of its local creditors when it completed the sale and the deal with its larger creditors.

That fulfills the commitment its chairman of the board Nick Clayton, made when he talked to me earlier this year. Now Idaho Natural Resources said in press release it is “now seeking opportunities to increase its exposure to the exploration for, and production of, oil and gas in the State.”

Anyway, they morphed, they did.

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"foreignoregonian" is not anonymous

It is my identity and my philosophy

Would you prefer everyone to be called 'Poster'?

Maybe,

if they are going to do business in Idaho, they should morph, or mosey on down to the Idaho Secretary of States office and register their new corporation.

Morph, not morf

Facepalm

Truth is hard to come by

"tranphormers"

For those who didn't see the orginal version of Rocks headline:

"Bridge Energy morfs into Idaho Natural Resources"

***
Rock-bonics!

Good job Statesman Publisher. You have a great team there!
Maybe you should just promote The Rock.

they didn't even stop at wendy's first...

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"foreignoregonian" is not anonymous

It is my identity and my philosophy

Would you prefer everyone to be called 'Poster'?