Houston Exploration Comments on JANA Partners' Statement; Board is Reviewing JANA's Proposal and Will Respond in an Orderly Man
2006年6月23日 - 1:15AM
PRニュース・ワイアー (英語)
HOUSTON, June 22 /PRNewswire-FirstCall/ -- The Houston Exploration
Company (NYSE:THX) issued the following statement in response to a
press release issued today by JANA Partners: As previously stated,
consistent with its fiduciary duties and in consultation with its
independent financial advisor and legal counsel, the Houston
Exploration Board of Directors is reviewing JANA's proposal in a
thorough and orderly manner. When the Board has completed its
review it will advise shareholders of its position on the proposal.
Lehman Brothers Inc. is serving as financial advisor to Houston
Exploration, and Akin Gump Strauss Hauer & Feld LLP is legal
advisor. About Houston Exploration: The Houston Exploration Company
is an independent natural gas and crude oil producer engaged in the
development, exploitation, exploration and acquisition of natural
gas and crude oil properties. The company's operations are focused
in South Texas, the Arkoma Basin, East Texas, and in the Rocky
Mountains. For more information, visit the company's Web site at
http://www.houstonexploration.com/ . Forward-looking statements:
This news release and oral statements regarding the subjects of
this release contain forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933, Section 21E of the
Securities Exchange Act of 1934 and the Private Securities
Litigation Reform Act. All statements other than statements of
historical fact included in this press release are forward- looking
statements and reflect the company's current expectations and are
based on current available information and numerous assumptions.
Important factors that could cause actual results to materially
differ from the company's current expectations include, among
others, the business outlook, the impact of onshore asset
concentration, the risks associated with the consummation and
successful integration of acquisitions, the impact of hurricanes,
price volatility, the risk of future writedowns, the impact of
hedging activities, the accuracy of estimates of reserves and
production rates, production and spending requirements, the
inability to meet substantial capital requirements, the market and
other factors for stock repurchases, the constraints imposed by the
company's outstanding indebtedness, the relatively short production
life of the company's reserves, reserve replacement risks, drilling
risks and results, the competitive nature of the industry, and
other risks and factors inherent in the exploration for and
production of natural gas and crude oil discussed in the company's
filings with the Securities and Exchange Commission, including the
company's annual report on Form 10-K for the year ended December
31, 2005. The company assumes no responsibility to update any of
the information referenced in this news release. Contacts: Melissa
R. Aurelio The Houston Exploration Company 713-830-6887 Barrett
Golden / Eric Brielmann Joele Frank, Wilkinson Brimmer Katcher
(212) 355-4449 DATASOURCE: The Houston Exploration Company CONTACT:
Melissa R. Aurelio of The Houston Exploration Company,
+1-713-830-6887; or Barrett Golden or Eric Brielmann, both of Joele
Frank, Wilkinson Brimmer Katcher, +1-212-355-4449, for The Houston
Exploration Company Web site: http://www.houstonexploration.com/
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