May 28, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — Southwest Resources, Inc. (OTC: SWRS) said that its board of directors has authorized a stock repurchase program under which up to fifteen million shares of its outstanding common stock may be acquired in the open market over the next six months at the discretion of management.

In a statement, the company's management said that the stock repurchase program authorization is partially in response to, “what appears to be a significant and concerted effort to suppress the price per share of the company's common stock through short and or naked short sales by third parties.”

Within five days, the company expects to have a trading account number and will begin to repurchase shares from the open market.

Texas-based Southwest Resources is an energy and mining company engaged in the acquisition, development, exploration and production of natural gas, crude oil, placer deposits of precious metals such as gold and platinum, and other income-producing natural resources.

The company is currently pursuing oil and gas properties in Texas, Oklahoma, New Mexico and Arizona and has mining rights in Utah.  

Real-time, streaming research for companies and funds mentioned in FinancialWire(tm) news is available via the Investrend Research Syndicate, courtesy of Stock Smart (at http://investrend.stocksmart.com/ss/html/hpcompany.html).

FinancialWire(tm) is committed to serving the financial community through true journalism and providing relevant resources to investors. Standards-based, independent equity research on numerous public companies is available through the Investrend Research Syndicate (http://www.investrend.com/reports) written by FIRST Research Consortium (http://www.investrend.com/FIRST) member-providers. Free annual reports and company filings for companies mentioned in the news are available through the Investrend Information Syndicate (at http://investrend.ar.wilink.com/?level=279). FinancialWire(tm), in cooperation with the Investrend Broadcast Syndicate, also provides complete, daily conference call and webcast schedules as a service to shareholders and investors via the FirstAlert(tm) Network’s “FirstAlert(tm) Daily” (at http://www.financialwire.net/news-alerts/).

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) website at http://www.financialwire.net/disclosures.php and http://www.financialwire.net/2010/04/23/safe-harbor/). Additional resources for investors are also accessible via the FinancialWire(tm) website (at http://www.financialwire.net/2010/04/23/investor-resources/). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

[hlmsmlh] [olgssglo] [bybksp] [ftrdnwswnd]

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.