July 28 (Reuters) - PRD Energy Inc PRD.V :
* To cease operations in Germany
* Says determined that it is in the best interests of PRD and its shareholders
to cease operations in Germany
* Says terminated the employment of its German staff effective August 31, 2015
and is taking steps to close its Berlin office
* Intends to relinquish its licences and will be ceasing efforts to acquire the
remaining interests in boerger from the operator
* Expects this decision to materially impact the carrying value of its
exploration and evaluation assets in its second quarter
* Will be reducing its technical staff in the Calgary office together with a
reduction in other ongoing administrative expenses
* Says board of directors has formed a special committee to evaluate the
company's strategic alternatives
* Source text for Eikon ID:nCCN1HBqZY
* Further company coverage PRD.V