Published:
Stone Energy Corporation and Bois d'Arc Energy, Inc. Announce Stockholders Vote to Approve Merger
LAFAYETTE, La., Aug. 27 /PRNewswire-FirstCall/ -- Stone Energy Corporation
("Stone") (NYSE: SGY) and Bois d'Arc Energy, Inc. ("Bois d'Arc") (NYSE: BDE)
today reported that the Stone stockholders have voted to approve the issuance
of additional shares of Stone common stock pursuant to the previously
announced merger agreement pursuant to which Stone will acquire Bois d'Arc and
that the Bois d' Arc stockholders have voted to approve the merger agreement.
Under the terms of the merger agreement, Bois d'Arc stockholders will receive
$13.65 per share in cash and 0.165 shares of Stone common stock for each share
of Bois d'Arc common stock.
Stone reported that 82.6% of its stockholders were represented at the
special meeting called to consider approval of issuance of additional shares
of Stone common stock pursuant to the merger agreement. Approximately 97.3% of
the shares represented at the meeting voted in favor of the proposal. Bois
d'Arc reported that 92.1% of its stockholders were represented at the special
meeting called to consider approval of the merger agreement. Approximately
99.7% of the shares represented at the meeting voted in favor of the
transaction.
Stone and Bois d'Arc expect to close the merger on August 28, 2008,
subject to customary closing conditions.
Stone Energy is an independent oil and natural gas company headquartered
inLafayette, Louisiana, and is engaged in the acquisition, exploration,
exploitation, development and operation of oil and gas properties located
primarily in theGulf of Mexico. For additional information, contact Kenneth
H. Beer, Chief Financial Officer, at 337-237-0410 - phone, 337-237-0426 - fax
or via e-mail at CFO@StoneEnergy.com.
Bois d'Arc Energy is a growing independent exploration company engaged in
the discovery and production of oil and natural gas in theGulf of Mexico. The
Company's stock is traded on the New York Stock Exchange under the symbol
"BDE".
Certain statements in this press release are forward-looking and are based
upon Stone's current belief as to the outcome and timing of future events. All
statements, other than statements of historical facts, that address activities
that Stone plans, expects, believes, projects, estimates or anticipates will,
should or may occur in the future, including future production of oil and gas,
future capital expenditures and drilling of wells and future financial or
operating results are forward-looking statements. Important factors that could
cause actual results to differ materially from those in the forward-looking
statements herein include the timing and extent of changes in commodity prices
for oil and gas, drilling and other operating risks, tropical cyclones,
including hurricanes, tropical storms and tropical depressions, and other risk
factors as described in Stone's Annual Report on Form 10-K and Current Reports
on Form 10-Q as filed with the Securities and Exchange Commission ("SEC").
Should one or more of these risks or uncertainties occur, or should underlying
assumptions prove incorrect, Stone's actual results and plans could differ
materially from those expressed in the forward-looking statements.
SOURCE Stone Energy Corporation
Copyright © 2009, PRNewswire
Copyright © 2009, NewsBlaze,
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