BRIEF-Worthington Energy To Go Forward With Voluntary Filing For Bankruptcy Under Chapter 11 Of U.S. Bankruptcy Code
March 19 (Reuters) - Worthington Energy Inc:
* WORTHINGTON ENERGY- ON MARCH 16, BOARD DECIDED TO GO FORWARD WITH VOLUNTARY FILING FOR BANKRUPTCY UNDER CHAPTER 11 OF U.S. BANKRUPTCY CODE
* WORTHINGTON ENERGY - CO CURRENTLY HAS TOTAL INDEBTEDNESS OF ABOUT $2.8 MILLION - SEC FILING
* WORTHINGTON ENERGY- IN PREPARATION FOR BANKRUPTCY FILING CO SUBMITTING PREPACKAGED PLAN OF REORGANIZATION TO CREDITORS, IS SOLICITING THEIR APPROVAL
* WORTHINGTON ENERGY - ON MARCH 14, CHARLES VOLK RESIGNED FROM HIS POSITION AS CEO OF CO
* WORTHINGTON ENERGY INC - ON MARCH 14, DIRECTORS OF CO APPOINTED AL KAU AS DIRECTOR, CEO OF CO Source text: (bit.ly/2HLwlF1) Further company coverage: