08:26 AM EST, 02/28/2025 (MT Newswires) -- Advantage Energy ( AAVVF ) on Friday said it formed a special committee of its board to review "strategic opportunities", while offering little detail on the group's role.

The Western Canadian natural-gas producer said the committee is made up of independent directors who will "review strategic opportunities that are in the best interests of Advantage and its shareholders".

"Advantage is cognizant of the fact that its industry is currently experiencing some headwinds, but in forming the Special Committee, it intends to position itself to take advantage of strategic opportunities that may arise during the course of 2025 as political uncertainty abates and industry conditions improve," the company said in a release.

Advantage is in the midst of renewing its board and earlier this week said Board Chair Stephen Balog will retire following the company's annual meeting. John Festival, who joined the company a year ago and will be one of the directors in the special committee, will replay Balog.

The company's shares closed up $0.13 to $9.65 Thursday on the Toronto Stock Exchange.