Denbury Resources Inc. Files $350 Million Universal Shelf Registration Statement.Energy Editors/Business Editors DALLAS--(BUSINESS WIRE)--Aug. 5, 2003 Denbury Resources Inc. (NYSE NYSE See: New York Stock Exchange :DNR See dynamic noise reduction and domain name resolver. ) announced that it filed a universal shelf registration statement today with the SEC to give Denbury and certain selling shareholders, if they so choose, the flexibility to offer up to $350 million of Denbury securities in the future. The registration statement has not been declared effective by the SEC. Under the registration statement, Denbury may offer up to $150 million of common stock, debt securities, 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. , depositary DEPOSITARY, contracts. He with whom a deposit is confided or made. 2. It is, the essence of the contract of deposits that it should be gratuitous on the part 'of the depositary. 9 M. R. 470. shares or warrants, or any combination of such securities, and certain selling shareholders, including affiliates of the Texas Pacific Group, may resell re·sell tr.v. re·sold , re·sell·ing, re·sells 1. To sell again. 2. To sell (a product or service) to the public or to an end user, especially as an authorized dealer. up to $200 million of outstanding common stock that they own. Following effectiveness of the registration statement, Denbury or the selling shareholders may periodically offer one or more of these securities in amounts, at prices, and on terms to be announced To be announced (TBA) A contract for the purchase or sale of an MBS to be delivered at an agreed-upon future date but does not include a specified pool number and number of pools or precise amount to be delivered. when, and if, the securities are offered. These offering specifics, along with the use of proceeds of any securities sold by Denbury, will be set out in a prospectus supplement at the time of any such offering. This shelf registration statement replaces a universal shelf registration filed in March 2001, which had approximately $97 million of current unused availability. The securities registered under the shelf registration statement may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective and a prospectus supplement setting forth the specific terms of any applicable offering is available. This press release shall not constitute an offer to sell or the solicitation solicitation In criminal law, the act of asking, inducing, or directing someone to commit a crime. The person soliciting another becomes an accomplice to the crime. The term also refers to the act of obtaining bribes, as well as to the crime of a prostitute who offers sexual 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 law of any such state. 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 that involve risks such as those involved in drilling activity and those due to price volatility, and uncertainties as to drilling results, production levels, commodity prices, and financial results as detailed in the Company's filings with the Securities and Exchange Commission, including its most recent reports on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. and 10-Q. These reports are incorporated by reference as though fully set forth herein. These statements are based on assumptions concerning commodity prices, existing market conditions, scheduling, drilling and completion results and costs and engineering assumptions that management believes are reasonable based on currently available information; however, management's assumptions and the Company's future performance are both subject to a wide range of business risks, and there is no assurance that these goals and projections can or will be met. Actual results may vary materially. For further information contact: |
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