Statoil to Make Additional Filings in Connection With Brigham Acquisition
23 Novembre 2011 - 3:00PM
Marketwired
Statoil (NYSE: STO) (OSLO: STL) and Brigham Exploration Company
(NASDAQ: BEXP) have decided to make voluntary filings with the U.S.
Committee on Foreign Investment in the United States (CFIUS) in
connection with Statoil's previously announced acquisition of
Brigham. The filing is voluntary and consistent with Statoil's
policy to cooperate with all relevant governmental authorities in
the United States, including CFIUS. Statoil will pay for shares
consistent with the pending tender offer. Neither the filing nor
completion of the CFIUS review is a condition to closing of
Statoil's pending tender offer for shares of common stock of
Brigham Exploration. The initial tender offer is currently
scheduled to expire at midnight NYC time on November 30, 2011.
Additional Information
This communication is neither an offer to purchase nor a
solicitation of an offer to sell any shares of the common stock of
Brigham Exploration Company or any other securities. Statoil ASA
and Fargo Acquisition Inc. have filed a tender offer statement on
Schedule TO, including an offer to purchase, a letter of
transmittal and related documents, with the United States
Securities and Exchange Commission (the "SEC"). The offer to
purchase shares of Brigham common stock (the "Offer") will only be
made pursuant to the offer to purchase, the letter of transmittal
and related documents filed with such Schedule TO. INVESTORS AND
STOCKHOLDERS ARE URGED TO READ BOTH THE TENDER OFFER STATEMENT, AS
FILED AND AS IT MAY BE AMENDED FROM TIME TO TIME, AND THE
SOLICITATION/RECOMMENDATION STATEMENT REGARDING THE OFFER, AS FILED
AND AS IT MAY BE AMENDED FROM TIME TO TIME, BECAUSE THEY CONTAIN
IMPORTANT INFORMATION REGARDING THE OFFER. The
solicitation/recommendation statement on Schedule 14D-9 has been
filed with the SEC by Brigham. Investors and stockholders may
obtain a free copy of these statements (when available) and other
documents filed with the SEC free of charge at the website
maintained by the SEC at www.sec.gov or by directing such requests
to Innisfree M&A Incorporated at (877) 687-1875.
About Brigham Exploration
Brigham Exploration Company is an independent exploration,
development and production company that utilizes advanced
exploration, drilling and completion technologies to systematically
explore for, develop and produce domestic onshore oil and natural
gas reserves. For more information about Brigham Exploration,
please visit our website at www.bexp3d.com or contact Investor
Relations at 512-427-3444.
Forward-Looking Statement Disclosure
Except for the historical information contained herein, the
matters discussed in this news release are forward-looking
statements within the meaning of the federal securities laws.
Important factors that could cause our actual results to differ
materially from those contained in the forward-looking statements
include early initial production rates which decline steeply over
the early life of wells, particularly our Williston Basin
horizontal wells for which we estimate the average monthly
production rates may decline by approximately 70% in the first
twelve months of production, our growth strategies, our ability to
successfully and economically explore for and develop oil and gas
resources, anticipated trends in our business, our liquidity and
ability to finance our exploration and development activities,
market conditions in the oil and gas industry, our ability to make
and integrate acquisitions, the impact of governmental regulation
and other risks more fully described in the company's filings with
the Securities and Exchange Commission. Forward-looking statements
are typically identified by use of terms such as "may," "will,"
"expect," "anticipate," "estimate" and similar words, although some
forward-looking statements may be expressed differently. All
forward-looking statements contained in this release, including any
forecasts and estimates, are based on management's outlook only as
of the date of this release, and we undertake no obligation to
update or revise these forward-looking statements, whether as a
result of subsequent developments or otherwise.
Statoil Further Information Investor relations
Norway: Hilde Merete Nafstad, senior vice president, investor
relations mobile: +47 957 83 911 Investor relations US:
Morten Sven Johannessen, vice president, investor relations USA
mobile: +1 203 570 2524 Press Norway: Jannik Lindbaek Jr.,
vice president, media relations mobile: +47 977 55 622 Bard Glad
Pedersen, press spokesperson, media relations mobile: +47 918 01
791 Press US: Ola Morten Aanestad, vice president, North
America communication mobile: +1 713 498 0585 Brigham Further
Information Contact: Rob Roosa, Director of Finance &
Investor Relations (512) 427-3300
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