Flores & Rucks, Inc. Announces Modification and Extension of Consent Solicitation with Respect to its 13-1/2% Senior Notes Due 2004.BATON ROUGE, La.--(BUSINESS WIRE)--Sept. 12, 1996--Flores & Rucks, Inc. announced today that it has modified its consent solicitation Consent Solicitation A solicitation by one party to the stakeholders of a particular security for the consent of a material change. Notes: Should the majority of stakeholders provide valid consent prior to the consent expiry date, the issuer may then follow through with with respect to its 13-1/2% Senior Notes due 2004 as a result of discussions with holders of a majority of the aggregate principal amount of such Notes. The Company is confident that as a result of such modifications and discussions that it has the support of bond holders necessary to execute a Supplemental Indenture. In connection with the modifications, the Company has extended the Expiration Date Expiration Date The day on which an options or futures contract is no longer valid and, therefore, ceases to exist. Notes: The expiration date for all listed stock options in the U.S. of the Solicitation until 5:00 p.m. New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. time on Monday, September 16, 1996. Certain statements in this news release regarding the consent solicitation may be regarded as "forward looking statements" within the meaning of the Securities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Reform Act. They are subject to various risks, such as financial market conditions, operating hazards, drilling risks, and the inherent uncertainties in interpreting engineering data relating to underground accumulations of oil and gas, as well as other risks discussed in detail in the Company's SEC filings, including the Annual Report and Form 10-K for the year ended December 31, 1995. Actual results may vary materially. Flores Flores, town, Guatemala Flores (flōrəs), town (1990 est. pop. 2,200), capital of Petén department, N Guatemala. Flores was built on an island in the southern part of Lake Petén Itzá and on the site of the & Rucks, Inc. is an independent energy company engaged in the exploration, development, production, and acquisition of crude oil and natural gas. For further information, please contact Investor Relations at (504) 927-1450 or mail requests to 8440 Jefferson Highway, Suite 420, Baton Rouge, LA 70809. Additional information on FNR FNR False Negative Rate FnR Find and Replace FNR Ford Nuclear Reactor FNR Future Net Revenue FNR For No Reason FNR Flexible Numbering Register FNR Fixed Network Reconfiguration FNR Frequency Normalization Response is located in the "Corporate News on the Net" section of Business Wire's home page (http://www.businesswire.com). CONTACT: Flores & Rucks, Inc., Baton Rouge James C. Flores or Robert L. Belk, 504/927-1450 |
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