Natural Gas Services Group Announces 'Lock Up' of 1.9 Million Shares for Six Months
MIDLAND, Texas, Oct. 2 /PRNewswire-FirstCall/ -- Natural Gas Services Group, Inc. (Amex: NGS), a leading provider of equipment and services to the natural gas and oil industry, announces that executive officers and directors that are major shareholders, have agreed, pursuant to lock-up agreements relating to the transfer of shares of the common stock, that they will not sell, transfer, hypothecate or convey the 1,885,302 shares of common stock they now own, by registration or otherwise, for a period of six months ending April 21, 2004. These shares have been subject to a lock up agreement executed at the time of the initial public offering on October 21, 2002.
Wayne Vinson, President and CEO of Natural Gas Services Group, Inc. said, "We strongly believe our stock is undervalued, an attractive investment opportunity and we're not selling. This move intends to boost the stock's value because we believe there is a strong up-side potential in our market value and our senior managers and directors want to send that message loud and clear."
About Natural Gas Services Group, Inc. (NGSG)
NGSG manufactures, fabricates, sells, leases and services natural gas compressors that enhance the production of oil and gas wells. The Company also manufactures and sells flare systems and flare ignition systems for plant and production facilities.
For more information visit the Company's website at www.ngsgi.com .
Certain statements contained herein are "forward looking" statements as such term is defined in the Private Securities Litigation Reform Act of 1995. Because statements include risks and uncertainties, actual results may differ materially from those expressed or implied and include, but are not limited to, those discussed in filings by the Company with the Securities and Exchange Commission.
More Information, Contact:
Wayne Vinson, CEO or Wallace Sparkman
800-580-1828
Jim Drewitz, Investor Relations
972-355-6070
SOURCE Natural Gas Services Group, Inc.
-0- 10/02/2003
/CONTACT: Wayne Vinson, CEO, or Wallace Sparkman, both of Natural Gas
Services Group, Inc., +1-800-580-1828; or Jim Drewitz, Investor Relations,
+1-972-355-6070, for Natural Gas Services Group, Inc./
/Web site: http://www.ngsgi.com /
(NGS)
CO: Natural Gas Services Group, Inc.
ST: Texas
IN: OIL
SU:
AW-CD
-- DATH002 --
5788 10/02/2003 08:25 EDT http://www.prnewswire.com