Contango Announces Secondary Offering of Common Stock.Energy Editors/Business Editors HOUSTON--(BUSINESS WIRE)--Feb. 24, 2004 Contango Contango When the futures price is above the expected future spot price. Consequently, the price will decline to the spot price before the delivery date. Notes: This is the opposite of backwardation. Oil & Gas Company (AMEX AMEX See: American Stock Exchange :MCF) announced today that it has filed a registration statement on Form S-3 with the Securities and Exchange Commission for a secondary offering. The selling stockholders named in the prospectus will offer up to 3,988,216 shares of common stock, including shares issued upon conversion of Contango's Series A and Series B preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. on Feb. 2, 2004. Contango will not receive any proceeds from the offering. A registration statement relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the 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 in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Contango is a Houston-based, independent natural gas and oil company. The Company explores, develops, produces and acquires natural gas and oil properties primarily onshore in the Gulf Coast and offshore in the Gulf of Mexico Noun 1. Gulf of Mexico - an arm of the Atlantic to the south of the United States and to the east of Mexico Golfo de Mexico Atlantic, Atlantic Ocean - the 2nd largest ocean; separates North and South America on the west from Europe and Africa on the east . Contango also owns a 10% partnership interest in a proposed LNG LNG (liquefied natural gas): see under natural gas. terminal in Freeport, Texas. Additional information can be found on our Web page at www.mcfx.biz. |
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