Crystal Gas Storage, Inc. Makes Announcement.SHREVEPORT, La.--(BUSINESS WIRE)--Aug. 27, 1999-- Crystal Gas Storage, Inc. (AMEX AMEX See: American Stock Exchange :COR) today announced that it is engaged in a review of strategic alternatives for the Company, including possible transactions that might result in the acquisition of the Company. A Company spokesman said that the Company had hired Goldman, Sachs & Co. to assist it with the strategic review and further stated that no transactions were pending at this time. The spokesman said that the Company would not have anymore announcements regarding this, unless and until a strategic transaction had reached a definitive state or the Company decides not to make any changes in its current strategy of operating as an independent company in the natural gas storage business. Crystal Gas Storage, Inc. currently owns and operates through wholly owned subsidiaries Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. two natural gas storage facilities near Hattiesburg, Mississippi, and holds various interests in natural gas properties primarily in Arkansas and Louisiana. Statements in this release other than historical facts are forward-looking statements made in reliance upon the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. As such, the involved risks and uncertainties are subject to change at any time. The Company derives its forward-looking statements from its operating budgets which are based on various assumptions, including matters regarding crude oil and natural gas production, prices, demand and supply, changes in the market for natural gas storage and transportation, the use of the Company's existing net operating tax loss carryforwards tax loss carryforward See carryforward. , regulatory uncertainties, legal proceedings All actions that are authorized or sanctioned by law and instituted in a court or a tribunal for the acquisition of rights or the enforcement of remedies. and environmental matters. Although the Company believes its assumptions are reasonable, it is impossible to predict the impact of certain factors that could cause actual results to differ materially from those anticipated. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion