July 5 (Reuters) - Blacksteel Energy Inc BEY.V :
* BLACKSTEEL ENERGY INC. AND DRAKKAR ENERGY LTD. ANNOUNCE BUSINESS COMBINATION
* BLACKSTEEL ENERGY - CONTEMPLATED EACH DRAKKAR SHAREHOLDER WOULD GET ONE SHARE OF POST-TRANSACTION ENTITY FOR EACH CLASS A COMMON SHARE OF DRAKKAR
* BLACKSTEEL ENERGY INC - AFTER CLOSING OF TRANSACTION, A NEW MANAGEMENT TEAM WILL BE APPOINTED BY RESULTING ISSUER
* BLACKSTEEL ENERGY - RESULTING ISSUER'S MANAGEMENT WILL INCLUDE KEITH MACDONALD AS PRESIDENT & CEO, CFO TO BE DETERMINED BY BOARD