Atlas America Intends to Transfer their E&P Assets and Business to New Subsidiary.PHILADELPHIA -- Atlas America, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ATLS ATLS Advanced Trauma Life Support ATLS Aerial Target Launch Ship ) (the "Company") announces that it intends to transfer to a newly-formed wholly-owned limited liability company or limited partnership subsidiary of the Company substantially all of its natural gas and oil exploration and production assets. The Company intends to make a registered initial public offering of a minority interest, estimated to be 20%, in the newly-formed subsidiary. This notice does not constitute an offer to sell or a solicitation of an offer to buy any securities. Atlas America, Inc. (NASDAQ:ATLS) is an energy company engaged primarily in the development, production and transportation of natural gas. In the Appalachian Basin, the company develops and produces natural gas for its own account and for its investors through the offering of tax advantaged investment programs. Atlas America also owns 100% of the general partner interest and an approximate 13% limited partner interest in Atlas Pipeline Partners, L.P. (NYSE NYSE See: New York Stock Exchange :APL (A Programming Language) A high-level mathematical programming language noted for its brevity and matrix generation capabilities. Developed by Kenneth Iverson in the mid-1960s, it runs on micros to mainframes and is often used to develop mathematical models. ). APL owns and operates more than 4,600 miles of natural gas transmission and gathering pipelines in Oklahoma, Texas, Arkansas, Pennsylvania, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , and Ohio and gas processing facilities in Oklahoma. For more information, please visit our website at www.atlasamerica.com, or contact investor relations Investor relations The process by which the corporation communicates with its investors. at pschreiber@atlasamerica.com. Statements made in this release include forward-looking statements, which involve substantial risks and uncertainties. The Company's actual results, performance or achievements could differ materially from those expressed or implied in this release as a result of many factors, including competition within the energy industry and capital markets' volatility. |
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