The Houston Exploration Company Comments on JANA Partners Announcement
24 Abril 2006 - 2:30PM
PR Newswire (US)
HOUSTON, April 24 /PRNewswire-FirstCall/ -- The Houston Exploration
Company (NYSE:THX) today commented on the JANA Partners
announcement: "The Board of Directors of the Houston Exploration
Company is comprised of seasoned industry leaders who are actively
engaged in building shareholder value and positioning Houston
Exploration for profitable growth. The Houston Exploration Board is
prudent, disciplined and committed to acting in the best interests
of all shareholders. We are focused on doing what is right for
Houston Exploration stockholders. "The Board has confidence in the
Company's ongoing strategic restructuring plan. We urge each of our
stockholders to support our Board and VOTE FOR the Board's director
nominees." About The Houston Exploration Company: The Houston
Exploration Company is an independent natural gas and crude oil
producer engaged in the development, exploitation, exploration and
acquisition of natural gas and crude oil properties. The company's
operations are focused in South Texas, the Gulf of Mexico, the
Arkoma Basin, East Texas, and the Rocky Mountains. For more
information, visit the company's Web site at
http://www.houstonexploration.com/ . Forward-looking statements:
This news release and oral statements regarding the subjects of
this release contain forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933, Section 21E of the
Securities Exchange Act of 1934 and the Private Securities
Litigation Reform Act. All statements other than statements of
historical fact included in this press release are forward- looking
statements and reflect the company's current expectations and are
based on current available information and numerous assumptions.
Important factors that could cause actual results to materially
differ from the company's current expectations include, among
others, the business outlook, the ability to complete the announced
divestiture of the company's offshore assets and effect qualified
like-kind exchange transactions to maximize tax efficiencies, the
impact of onshore asset concentration, the risks associated with
the consummation and successful integration of acquisitions, the
impact of hurricanes, price volatility, the risk of future
writedowns, the impact of hedging activities, the accuracy of
estimates of reserves and production rates, production and spending
requirements, the inability to meet substantial capital
requirements, the market and other factors for stock repurchases,
the constraints imposed by the company's outstanding indebtedness,
the relatively short production life of the company's reserves,
reserve replacement risks, drilling risks and results, the
competitive nature of the industry, and other risks and factors
inherent in the exploration for and production of natural gas and
crude oil discussed in the company's filings with the Securities
and Exchange Commission, including the company's annual report on
Form 10-K for the year ended December 31, 2005. The company assumes
no responsibility to update any of the information referenced in
this news release. Contacts: Melissa R. Aurelio The Houston
Exploration Company 713-830-6887 Joele Frank / Eric Brielmann Joele
Frank, Wilkinson Brimmer Katcher (212) 355-4449 DATASOURCE: The
Houston Exploration Company CONTACT: Melissa R. Aurelio of The
Houston Exploration Company, +1-713-830-6887; or Joele Frank or
Eric Brielmann, both of Joele Frank, Wilkinson Brimmer Katcher,
+1-212-355-4449, for The Houston Exploration Company Web site:
http://www.houstonexploration.com/
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