Forest Oil Announces Commencement of Proxy Mailing
October 20 2014 - 7:04AM
Business Wire
Forest Oil Corporation (NYSE:FST) (“Forest”) announced today
that it will commence mailing definitive proxy materials today in
connection with the meeting to Forest shareholders for the purpose
of voting on the previously announced business combination
transaction between Sabine Oil & Gas LLC (“Sabine”) and Forest.
Today’s action follows completion of the Securities and Exchange
Commission review process last week.
Forest has scheduled the special meeting of shareholders for
November 20, 2014, to consider and vote on the proposed merger
agreement with Sabine. Forest shareholders of record at the close
of business on October 3, 2014, the record date, are entitled to
notice of, and to vote at, the Forest special meeting.
Closing of the transaction is subject to approval of
shareholders of Forest, necessary regulatory approvals and other
closing conditions. If approved, Forest anticipates the transaction
to close in 2014.
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Forest Oil Corporation is engaged in the acquisition,
production, exploration, and development of natural gas and liquids
in the United States. Forest’s principal reserves and producing
properties are located in East Texas, the Eagle Ford in South
Texas, Arkansas, Louisiana, and Oklahoma. Forest’s common stock
trades on the New York Stock Exchange under the symbol FST. For
more information about Forest Oil, please visit its website at
http://www.forestoil.com.
IMPORTANT ADDITIONAL INFORMATION FILED WITH THE SEC
In connection with the proposed transactions, Forest Oil
Corporation has filed a definitive proxy statement with the
Securities and Exchange Commission (“SEC”), and each of Sabine Oil
& Gas LLC and Forest Oil Corporation also plan to file other
relevant documents with the SEC regarding the proposed
transactions. INVESTORS ARE URGED TO READ THE DEFINITIVE PROXY
STATEMENT AND OTHER RELEVANT DOCUMENTS FILED WITH THE SEC BECAUSE
THEY CONTAIN IMPORTANT INFORMATION. You may obtain a free copy of
the definitive proxy statement and other relevant documents filed
by Sabine Oil & Gas LLC and Forest Oil Corporation with the SEC
at the SEC’s website at www.sec.gov. You may also obtain Forest’s
documents by contacting Forest Oil Corporation’s Investor Relations
department at www.forestoil.com or by email
at IR@forestoil.com.
PARTICIPANTS IN THE SOLICITATION
Forest Oil Corporation, Sabine Oil & Gas LLC and their
respective directors and executive officers and other members of
management and employees may be deemed to be participants in the
solicitation of proxies in respect of the proposed
transactions. Information about Forest Oil Corporation’s
directors is available in Forest Oil Corporation’s proxy statement
filed with the SEC on March 26, 2014, for its 2014 annual meeting
of shareholders, and information about Forest Oil Corporation’s
executive officers is available in Forest Oil Corporation’s Annual
Report on Form 10-K for 2013 filed with the SEC on February 26,
2014. Information about Sabine Oil & Gas LLC’s directors
and executive officers is available in the definitive proxy
statement filed by Forest Oil Corporation. Other information
regarding the participants in the proxy solicitations and a
description of their direct and indirect interests, by security
holdings or otherwise, is contained in the definitive proxy
statement and other relevant materials filed with the SEC regarding
the proposed transactions. Investors should read the definitive
proxy statement carefully before making any voting or investment
decisions. You may obtain free copies of these documents from
Forest Oil Corporation using the sources indicated above.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This document contains forward-looking statements concerning the
proposed transactions, its financial and business impact,
management’s beliefs and objectives with respect thereto, and
management’s current expectations for future operating and
financial performance, based on assumptions currently believed to
be valid. Forward-looking statements are all statements other
than statements of historical facts. The words “anticipates,”
“may,” “can,” “plans,” “believes,” “estimates,” “expects,”
“projects,” “intends,” “likely,” “will,” “should,” “to be,” and any
similar expressions or other words of similar meaning are intended
to identify those assertions as forward-looking statements. It
is uncertain whether the events anticipated will transpire, or if
they do occur what impact they will have on the results of
operations and financial condition of Forest Oil Corporation or
Sabine Oil & Gas LLC. These forward-looking statements
involve significant risks and uncertainties that could cause actual
results to differ materially from those anticipated, including but
not limited to the ability of the parties to satisfy the conditions
precedent and consummate the proposed transactions, the timing of
consummation of the proposed transactions, the ability of the
parties to secure regulatory approvals in a timely manner or on the
terms desired or anticipated, the ability of Forest Oil Corporation
to integrate the acquired operations, the ability to implement the
anticipated business plans following closing and achieve
anticipated benefits and savings, and the ability to realize
opportunities for growth. Other important economic, political,
regulatory, legal, technological, competitive and other
uncertainties are identified in the documents filed with the SEC by
Forest Oil Corporation from time to time, including Forest Oil
Corporation’s Annual Reports on Form 10-K, Quarterly Reports on
Form 10-Q, and Current Reports on Form 8-K, including amendments to
the foregoing. For additional information on the risks and
uncertainties that could impact Sabine Oil & Gas LLC’s business
and operations, as well as risks related to the transactions,
please see the definitive proxy statement filed by Forest Oil
Corporation. The forward-looking statements included in this
document are made only as of the date hereof. Neither Forest
Oil Corporation nor Sabine Oil & Gas LLC undertakes any
obligation to update the forward-looking statements included in
this document to reflect subsequent events or circumstances.
FOR INVESTORSForest Oil CorporationLarry C. Busnardo,
303-812-1441VP – Investor Relations
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