EPL Announces Reaffirmation of Its Borrowing Base at $150 Million
01 Dicembre 2008 - 8:28PM
Business Wire
Energy Partners, Ltd. (�EPL� or the �Company�) (NYSE:EPL) today
reported that it had completed its customary semi-annual borrowing
base redetermination, which has resulted in a reaffirmation of its
borrowing base at $150 million. Founded in 1998, EPL is an
independent oil and natural gas exploration and production company
based in New Orleans, Louisiana. The Company�s operations are
focused along the U. S. Gulf Coast, both onshore in south Louisiana
and offshore in the Gulf of Mexico. Forward-Looking Statements This
press release may contain forward-looking information and
statements regarding EPL. Any statements included in this press
release that address activities, events or developments that EPL
expects, believes, plans, projects, estimates or anticipates will
or may occur in the future are forward-looking statements. These
include statements regarding: reserve and production estimates;
estimated timing of production restoration; oil and natural gas
prices; the impact of derivative positions; production expense
estimates; cash flow estimates; future financial performance;
planned capital expenditures; and other matters that are discussed
in EPL�s filings with the Securities and Exchange Commission. These
statements are based on current expectations and projections about
future events and involve known and unknown risks, uncertainties,
and other factors that may cause actual results and performance to
be materially different from any future results or performance
expressed or implied by these forward-looking statements. Please
refer to EPL�s filings with the SEC, including Form 10-K for the
year ended December 31, 2007 and Form 10-Q as of September 30,
2008, for a discussion of these risks. Additional Information and
Where to Find It. Security holders may obtain information regarding
the Company from EPL�s website at www.eplweb.com, from the
Securities and Exchange Commission�s website at www.sec.gov, or by
directing a request to: Energy Partners, Ltd. 201 St. Charles
Avenue, Suite 3400, New Orleans, Louisiana 70170, Attn: Secretary,
(504) 569-1875.
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