Harris Exploration Private Placement Of Up To $5 Million Convertible Bonds.NEW YORK--(BUSINESS WIRE)--August 25, 1997--HARRIS EXPLORATION (NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). BB: HAEX HAEX Angioneurotic Edema, Hereditary, with Normal C1-Inhibitor Concentration and Function ) today reported an agreement with COFIMA COFIMA Coordinate and Constraint File Manipulation FINANZ AG of Zurich to place privately in Europe five million dollars of Convertible Bonds bearing 8 percent interest and maturing in four years. The bonds will be convertible into common stock on terms still to be finalized See finalization. . Closing is expected in September 1997. Proceeds of the Private Placement will be used to aggressively continue the company's acquisition program and its development of existing properties in the onshore US oil and gas market. Harris Exploration, Inc. is a developing oil and gas company which is primarily engaged in US onshore exploration. Norris R. Harris, chairman, also announced that the company has relocated its office from Dallas to Gulfport, Mississippi Gulfport is the second largest city in Mississippi after the state capital Jackson. It is the larger (population wise) of two principal cities of the Gulfport-Biloxi, Mississippi Metropolitan Statistical Area, which is included in the Gulfport-Biloxi-Pascagoula, Mississippi , to be nearer the Gulf Coast area where it operates. This resulted in a reduction of overhead. CONTACT: Harris Exploration Norris R. Harris, 601/864-6667 |
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