Forest Oil Shareholders Approve Business Combination with Sabine Oil & Gas
November 20 2014 - 11:09AM
Business Wire
Forest Oil Corporation (NYSE:FST) (Forest or the Company) today
announced that its shareholders have approved, by majority vote of
the outstanding shares of Forest, all of the proposals that were
presented with respect to the previously announced business
combination transaction with Sabine Oil & Gas LLC at the
Company’s special meeting of shareholders held today. Forest will
file the voting results for each of the proposals with the SEC
within four business days.
Closing of the combination transaction remains subject to other
closing conditions. Forest anticipates that the transaction will
close in December 2014.
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.
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, and Louisiana. 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.
Forest Oil CorporationLarry C. BusnardoVP – Investor
Relations303-812-1441
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