PDER Pardee Resource Co Inc (PK)

PHILADELPHIA, Jan. 19, 2012 /PRNewswire/ -- Pardee Resources Company (OTC: PDER) (the "Company") announced today that its Board of Directors has adopted a Share Repurchase Program under which the Company may, from time to time in market transactions, repurchase its outstanding common shares.  This Share Repurchase Program may be carried out through open market purchases.  The Company is not obliged to repurchase any of its common shares and there can be no assurance as to when, or whether, any shares will be repurchased under this program.

SOURCE Pardee Resources Company