Denbury Resources Inc. Announces Offering of $125 Million of Senior Subordinated Notes.DALLAS -- Denbury Resources Inc. (NYSE NYSE See: New York Stock Exchange :DNR See dynamic noise reduction and domain name resolver. ) announced today that it has filed a registration statement with the Securities and Exchange Commission relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the public offering of $125 million of Senior Subordinated Notes Due 2015. This offering of notes is to be an additional issuance under the instrument governing Denbury's December 2005 sale of $150 million of Senior Subordinated Notes due 2015, with both sets of notes to trade as a single class. Denbury expects to complete the offering next week. Denbury plans to use the estimated net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). from the offering to repay a portion of the current borrowings under the Company's bank credit facility, under which approximately $180 million was outstanding as of March 25, 2007. J.P. Morgan Securities Inc. and Johnson Rice & Company LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control are acting as underwriters for the notes offering with J.P. Morgan Securities Inc. acting as sole book-running manager. A copy of the prospectus for the offering may be obtained on the SEC website at www.sec.gov. Alternatively, the underwriter will arrange to send you the prospectus if you request it by contacting J.P. Morgan Securities Inc. at 270 Park Avenue, 8th Floor, 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 , New York 10017, attention Syndicate Desk. This press release does not constitute an offer to sell or a solicitation of an offer to buy Denbury Senior Subordinated Notes. Such an offer can only be made by delivery of a prospectus that has been filed with the Securities and Exchange Commission. Denbury Resources Inc. (www.denbury.com) is a growing independent oil and gas company. The Company is the largest oil and natural gas operator in Mississippi, owns the largest reserves of CO2 used for tertiary oil recovery east of the Mississippi River Mississippi River River, central U.S. It rises at Lake Itasca in Minnesota and flows south, meeting its major tributaries, the Missouri and the Ohio rivers, about halfway along its journey to the Gulf of Mexico. , and holds key operating acreage in the onshore Louisiana and Texas Barnett Shale areas. The Company increases the value of acquired properties in its core areas through a combination of exploitation drilling and proven engineering extraction practices. |
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