Warren Resources, Inc. Completes Initial Public Offering
December 22 2004 - 11:29AM
PR Newswire (US)
Warren Resources, Inc. Completes Initial Public Offering NEW YORK,
Dec. 22 /PRNewswire-FirstCall/ -- Warren Resources, Inc.
(NASDAQ:WRES) announced today that its initial public offering was
successfully completed. The Company sold 9.5 million shares at a
price of $7.50 per share to the public. The underwriters have a
30-day option to purchase up to an additional 1,425,000 shares from
the Company. The Company received approximately $ 66.2 million, net
of expenses. KeyBanc Capital Markets acted as the sole book-running
manager of the offering. Jefferies & Company, Inc. and Sanders
Morris Harris, Inc. acted as co-managers. Copies of the prospectus
relating to the offering may be obtained from KeyBanc Capital
Markets by written request to 800 Superior Avenue, Cleveland, Ohio
44144, or by fax request to (216) 443-3901. This press release
shall not constitute an offer to sell or the solicitation of an
offer to buy, nor shall there be any sale of these securities in
any state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to the registration or qualification under
the securities laws of any such state or jurisdiction. About Warren
Resources: Warren Resources, Inc. is a growing independent energy
company engaged in the exploration and development of domestic
natural gas and oil reserves. Warren is primarily focused on the
exploration and development of coalbed methane properties located
in the Rocky Mountain region and its waterflood oil recovery
program in the Wilmington Townlot Unit within the Los Angeles Basin
of California. The Company is headquartered in New York, New York,
and its exploration and development subsidiary is headquartered in
Casper, Wyoming. Forward-Looking Statements: This press release
contains forward-looking statements within the meaning of Section
27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. These forward-looking statements reflect our
current views with respect to future events, based on what we
believe are reasonable assumptions. No assurance can be given,
however, that these events will occur. These statements are subject
to risks and uncertainties that could cause actual results to
differ materially including, among other things, completion of the
offering, market conditions, oil and gas price volatility,
uncertainties inherent in oil and gas production operations and
estimating reserves, unexpected future capital expenditures,
competition, the success of our risk management activities,
governmental regulations and other factors discussed in our
Registration Statement on Form S-1 filed with the Securities and
Exchange Commission (http://www.sec.gov/). DATASOURCE: Warren
Resources, Inc. CONTACT: David Fleming for Warren Resources, Inc.,
+1-212-697-9660 Web site: http://www.warrenresourcesinc.com/
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