Company Website:
http://www.forestoil.com
DENVER -- (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.
Contacts:
FOR INVESTORS
Forest Oil Corporation
Larry C. Busnardo,
303-812-1441
VP – Investor Relations
Source: Forest Oil Corporation
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