DALLAS, November 20 /CNW/ - Denbury Resources Inc. (NYSE: DNR) ("Denbury"
or the "Company") today announced that its stockholders have approved an
amendment to the Company's certificate of incorporation to increase the number
of authorized shares of common stock from 250 million shares to 600 million
shares and to split its issued common stock two-for-one. This action was taken
at a special meeting of the stockholders held yesterday. Stockholders of
record as of the close of business on December 5, 2007 will receive one
additional share of Denbury common stock for each share of common stock held
at that time, to be distributed on December 14, 2007. The Company will have
approximately 245 million shares outstanding after the stock split.
Denbury Resources Inc. (www.denbury.com) is a growing independent oil and
gas company. The Company is the largest oil and natural gas operator in
Mississippi, owns the largest reserves of CO2 used for tertiary oil recovery
east of the Mississippi River, and holds operating acreage onshore Alabama,
Louisiana, in the Barnett Shale play near Fort Worth, Texas, and properties in
Southeast Texas. The Company's goal is to increase the value of acquired
properties through a combination of exploitation, drilling and proven
engineering extraction practices, with its most significant emphasis relating
to tertiary recovery operations.
This press release contains forward looking statements relating to the
Company's anticipated split of its common stock that is subject to
uncertainties of external economic factors or changes in the public markets
for oil and gas companies that could affect the timing and exact nature of the
proposed stock split.
For further information:
For further information: Denbury Resources Inc. Gareth Roberts,
972-673-2000 President and CEO or Phil Rykhoek, 972-673-2000 Sr. VP and Chief
Financial Officer www.denbury.com