Denbury Resources Inc. Closes $225 Million Notes Offering; Satisfies Redemption Condition.Energy Editors/Business Editors DALLAS--(BUSINESS WIRE)--March 25, 2003 Denbury Resources Inc. (NYSE NYSE See: New York Stock Exchange :DNR See dynamic noise reduction and domain name resolver. ) ("Denbury" or the "Company") announced today that the condition to the redemption of its $125 million aggregate principal amount of 9% Senior Subordinated Notes Due 2008 and $75 million aggregate principal amount of 9% Series B Senior Subordinated Notes Due 2008 has been satisfied with the closing today of its sale of $225 million aggregate principal amount of 7 1/2% Senior Subordinated Notes Due 2013. The redemption date Redemption date The date on which a bond matures or is redeemed. redemption date The date on which a debt security is scheduled to be redeemed by the issuer. The redemption date is the scheduled maturity date or, if applicable, a call date. will be April 16, 2003. 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, holds key operating acreage onshore Louisiana and has a growing presence in the offshore 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 areas. The Company increases the value of acquired properties in its core areas through a combination of exploitation drilling and proven engineering extraction practices. This press release, other than historical financial information, contains 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. that involve risks and uncertainties, including whether the redemption will actually occur. |
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