Houston Exploration (NYSE:THX)
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From Jul 2019 to Jul 2024
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/