March 19, 2018 / 10:27 AM / a month ago

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:

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