Benton Oil and Gas Company Extends Consent Solicitation.Business Editors HOUSTON, Texas--(BUSINESS WIRE)--August 17, 2001 Benton Oil and Gas Company (NYSE NYSE See: New York Stock Exchange :BNO BNO Beroepsorganisatie Nederlandse Ontwerpers BNO Boys' Night Out (band) BNO Boyz Nite Out BNO Big Night Out (band) BNO Bau- und Nutzungsordnung BNO Baksan Neutrino Observatory ) today announced it has extended the consent date with respect to its solicitation of consents from holders of its 11 5/8% senior notes due 2003 to amend the indenture An agreement declaring the benefits and obligations of two or more parties, often applicable in the context of Bankruptcy and bond trading. The term indenture primarily describes secured contracts and has several applications in U.S. law. governing these notes to 9:00 a.m. New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. time, Friday, August 17, 2001. All other terms remain unchanged. As of 7:00 a.m., New York City time, August 17, 2001, the Company had received consents representing $59,403,000 of the 11 5/8% senior notes due 2003. The supplemental indenture for the 2003 senior notes will not become operative unless and until all of the conditions, including the successful completion of the consent solicitation Consent Solicitation A solicitation by one party to the stakeholders of a particular security for the consent of a material change. Notes: Should the majority of stakeholders provide valid consent prior to the consent expiry date, the issuer may then follow through with from the holders of the 9 3/8% senior notes due 2007, have been met. The Company also announced today it has extended the consent date with respect to its solicitation of consents from holders of its 9 3/8% senior notes due 2007 to amend the indenture governing these notes to 5:00 p.m., New York City time, Friday, August 17, 2001. All other terms remain unchanged. As of 7:00 a.m., New York City time, August 17, 2001, the Company had received consents representing $47,107,000 of the 9 3/8% senior notes due 2007. Benton Oil and Gas Company, headquartered in Houston, Texas “Houston” redirects here. For other uses, see Houston (disambiguation). Houston (pronounced /'hjuːstən/) is the largest city in the state of Texas and the , is an independent oil and gas exploration and development company with principal operations in Venezuela and Russia. This press release may contain "Forward-Looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " within the meaning of Section 27/a of the Securities Act and Section 21E of the Exchange Act. All statements other than statements of historical facts included in this release may constitute forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Actual results may differ materially from the Company's expectations due to changes in operating performance, project schedules, oil and gas demands and prices, and other technical and economic factors. |
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