NEW YORK, Feb. 13, 2013 (GLOBE NEWSWIRE) -- Warren Resources, Inc. (Nasdaq:WRES) today announced that it has filed a universal Shelf Registration Statement with the Securities and Exchange Commission ("SEC") to replace its previous shelf registration statement, which expired in 2012.
The Shelf Registration Statement is intended to provide the Company with flexibility to access the public capital markets in order to respond to financing and business opportunities in the future but does not obligate the Company to do so. Although the Shelf Registration Statement relating to these securities has been filed with the SEC, it has not yet become effective. If and when the Shelf Registration Statement is declared effective by the SEC, the Company may, from time to time, issue up to an aggregate of $400 million of equity, debt or other types of securities through one or more methods of distribution.
Although the Company does not have any current commitments or intentions to sell securities, the terms of any future offering would be established at the time of offering subject to market conditions. Any offering of securities covered by the Shelf Registration Statement will be made only by means of a written prospectus and prospectus supplement filed with the SEC at the times of the offerings and will include the use of proceeds and other terms of the offering.
These securities may not be sold nor may offers to buy be accepted prior to the time the Shelf Registration Statement becomes effective. 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 an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Warren Resources
Warren Resources, Inc. is an independent energy company engaged in the exploration, development and production of domestic oil and natural gas reserves. Warren's activities are primarily focused on oil in the Wilmington field in California and natural gas in the Washakie Basin in Wyoming.
This news 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. Warren believes that its expectations are based on reasonable assumptions. No assurance, however, can be given that such expectations will prove to have been correct. A number of factors could cause actual results to differ materially from the projections, anticipated results or other expectations expressed in this news release. See "Risk Factors" in the Company's Annual Report on Form 10-K, our Quarterly Reports on Forms 10-Q and other public filings with the Securities and Exchange Commission (www.sec.gov).
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