Flores & Rucks, Inc. proposes corporate name change to Ocean Energy, Inc.BATON ROUGE, La.--(BUSINESS WIRE)--May 12, 1997--Flores & Rucks, Inc. ("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 ")(NYSE NYSE See: New York Stock Exchange :FNR) announced today that it intends to change the Company's name to "Ocean Energy, Inc." The proposed name of Ocean Energy, Inc. has already been approved by the Company's Board of Directors and is subject to approval by the Company's stockholders at the Annual Meeting on June 17, 1997. The change would become effective following the Annual Meeting of Stockholders. The Company's trading symbol on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. will be changed to "OEI". James C. 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 , Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , stated: "The proposed name of Ocean Energy, Inc. better reflects both the nature of our Company's business and its significant growth since its inception in 1992. This is a change in name only. No changes in ownership or management are being made; nor are any contemplated. As Ocean Energy, Inc., we plan to continue implementing our proven strategy of increasing production and reducing expenses on a unit basis in the exploration and development of 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 properties. -0- Certain statements in this news release regarding future expectations, plans for acquisitions, dispositions, and oil and gas exploration, development, production and pricing 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 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 on Form 10-K for the year ended December 31, 1996. Actual results may vary materially. -0- Flores & 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 504/928-6222 or mail requests to 8440 Jefferson Highway, Suite 420, Baton Rouge, LA 70809. Additional information on FNR is located in the "Corporate News on the Net" section of Business Wire's home page (http://www.businesswire.com). CONTACT: Flores & Rucks Michael O. Aldridge, 504/927-1450 |
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