Two B.C. companies are the latest casualties in the global financial crisis.
Bayou Bend Petroleum Ltd. (TSX-V:BBP) has announced that it's exploring strategic alternatives to maximize value for its shareholders.
Bayou Bend, an oil and gas exploration firm, has hired Canaccord Adams Inc. to review strategic and financial alternatives that could include the sale of the company's assets.
Earlier this week, EarthFirst Canada Inc. (TSX:EF) had obtained creditor protection in light of the current global financial crisis. The company said its ability to explore strategic alternatives has been severely hindered and that it has had difficulty raising financing or looking for a buyer for the company.
Both companies have seen their share prices plummet in the past year. Bayou Bend was trading as high as $1.23 a year ago. It's now trading between $0.15 and $0.16. EarthFirst was trading as high as $2.10 last December. It's now trading below $0.02.