Forest Oil Corp fka FSTO

[Papa Bear]

Should be extremely interesting!

[TESLA777]

Absolutely will be Greece, they are having a re-election the end of this month and if Tsipras wins, Greece may leave the Euro and go back to the Greek Dragma. Although European Talking Heads are shrugging this off as no big deal, if Greece leaves will any much bigger countries follow rather than go through austerity and stay in the Euro, thats the real question here....


http://www.nytimes.com/2015/01/06/world/europe/greeces-relationship-with-eurozone-is-tested-by-election.html?_r=0

Whats happening right now really appears to me like the deflationary event(on commodities in the summer-before market crash) we had back in 2008, could Greece be a Lehman type event in Europe?? Dont know its a small country and small economy but if Spain or Portugal decide to do the Same, look out.

Euro needs to implement a QE type of program immediately IMHO, well see what happens, should be interesting....

[Papa Bear]

In regards to the Euro!

[Papa Bear]

Which country do you think will be the first in Europe to throw in the trash and run for the exit?

[Papa Bear]

You bet .... Shows the strength of FSTO! Liking it more and more!

[TESLA777]

This is about Europe (its a mess, same thing happened to us in 2008 before QE, they need their own version of QE) and deflationary pressures, also a really strong dollar.....The 10 year Bond is around 2% which tells me money is running for cover right now.

As soon as the dollar tops out, oil will bottom, then go back up again, and so will the oil and commodity plays, pretty scary sell off though ....all IMHO....

[The_Free_Nebula]

Especially when the talking heads are blaming the market correction on oil prices...

[TESLA777]

Yes ugly day today in the markets and we held up great

[The_Free_Nebula]

Nice start for new year

[TESLA777]

$FSTO, 1-5-2015

Price.....% Chg.....$ Volume.....Share Vol.....Trades

0.244.....+2.13.......246,780.......1,088,292.....162

[Papa Bear]

FSTO: Good evening Tesla .... liking everything that I see here with FSTO. Will be staying to see how she plays here

[TESLA777]

Hey Papa Bear, good to see you here....This one could be real special in 2015....

[Papa Bear]

FSTO: Very interesting play!

[TESLA777]

I really do too, Im looking forward to watching this company and stock in 2015, glad I found it at just the right time IMHO.....$2015

[The_Free_Nebula]

Don't know what it is but I have some warm and fuzzies about the potential with this merged company

[Stock_Dog]

Awesome work

[The_Free_Nebula]

CFO gets big restricted stock incentive. No quite a market buy but it is acquisition of shares...

[The_Free_Nebula]

there was like 5K showing on the ask @ .24 around 100K shares ago...MMs playing games

[The_Free_Nebula]

Nice info...

[TESLA777]

Here we go, 12-16-2014 O/S = 198,104,790

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10377280

Im going to have to try to get a hold of the TA and see if I can get a current O/S and A/S update for us here....GLTA....

[TESLA777]

Not sure if O/S is still 119,374,111 (11-06-2014), thats excellent if still accurate....

http://www.otcmarkets.com/stock/FSTO/profile

[TESLA777]

I agree with you, the big selloff already happened when this got delisted from the big boards, we should see and be able to verify the bottom any time soon now IMHO...looking forward to watching this bounce...

[The_Free_Nebula]

It is way oversold so it is in the ballpark...

[TESLA777]

Yeah its been very volatile, Im trying to verify the bottom here myself. Once this thing bottoms out, I agree it should move back up pretty nice. We all need to figure out what we have have here.

Once this all shakes out, this appears to be a Billion++ Dollar Oil company with around a Billion Dollar Credit line, new company and name change to "Sabine Oil" with a new ticker and hopefully will uplist to the big boards again.....all IMHO....

[Stock_Dog]

Me too but I think anywhere down here is a good place to start

[The_Free_Nebula]

Thanks...may have stuck the toe in a little too early...But I the possibilities where that wont matter down the road..

[TESLA777]

NP, glad your here....GLTY....

[The_Free_Nebula]

FSTO - I am in....Toe in position. thanks for the tip

[TESLA777]

$FSTO, FREE L2 CURRENTLY AT:

http://www.otcmarkets.com/stock/FSTO/quote

[Zjblack7]

FSTO is a gem without a doubt. Once oil retreats back to the 70-80 dollar range and we have a couple quarterly reports signify strength, there is no reason why we shouldn't be back at the multi-dollar range. In my opinion, FSTO could wind up being similar to FNMA/FMCC and AAMRQ.

[TESLA777]

Yes this will be, the merger happened, these are billion dollar oil companies (Sabine and Forest)....Forest just sold off about 1.2 billion in assets to pay off debts. I believe these guys together still have a billion dollar credit line in place.....Forest just got kicked down to the OTC in the last 2 weeks(from the big boards).....

We'll get more info and details over the next few months, this will be like a FNMA type move....from .20 or less to multi-dollars...

[Stock_Dog]

Could this be a hidden gem ? Can they weather the oil storm?

[TESLA777]

Board and Management Structure

The combined company’s board will initially consist of two existing Forest directors, Patrick McDonald and Dod Fraser and five former Sabine directors approved by the Forest board: David Sambrooks, who will serve as Chairman, Duane Radtke, who will serve as Lead Director, Alex Krueger, Brooks Shughart and John Yearwood as directors. Tom Chewning will join the combined company’s board at closing as an independent director and Chairman of the Audit Committee.

Mr. Chewning has over 40 years of executive and financial experience. He served as President and Chief Executive Officer of Dominion Energy, a subsidiary of Dominion Resources, from 1995 to 1999, and then as Chief Financial Officer of Dominion Resources from 1999 until his retirement in 2009.

The combined company will be led by David Sambrooks, President and Chief Executive Officer, Todd Levesque, Executive Vice President and Chief Operating Officer and Michael Magilton, Senior Vice President and Chief Financial Officer. Mr. Magilton will join the company on January 1, 2015 following completion of his tenure as Vice President, Finance & Treasurer at Quantum Resources Management, which he joined in 2011. Prior to Quantum, he served as a Vice President with private equity firm Aurora Capital Group. Full biographies for Messrs. Chewning and Magilton are included below.

Complementary Assets

In addition to a top-tier 207,000 net acreage position in East Texas, the combination of assets is expected to create a 65,000 net acreage position in the Eagle Ford as well a position in the Haynesville in North Louisiana and a highly economic liquids rich position in the Granite Wash. The complementary nature of Sabine and Forest’s assets should present considerable opportunities to generate savings through operating synergies, economies of scale, and optimized capital allocation.

The combined company will have estimated proved reserves of 1.4 trillion cubic feet equivalent (71% gas) (as of September 30, 2014), and estimated daily production of approximately 305 million cubic feet equivalent (66% gas) for 2014.

The combined company has multiple opportunities to de-lever its balance sheet through an optimized capital program and accretive divestments. As an example of action already taken, Forest closed the divestment of its Arkoma Basin assets on December 15, 2014, receiving cash proceeds of approximately $184 million after closing adjustments. This sale represented an 8.1x multiple of trailing twelve month cashflow. The combined company plans to explore additional divestment opportunities to further improve the balance sheet.

NYSE Listing Status

Forest has been informed by the New York Stock Exchange that trading in its common stock will be suspended immediately and is being delisted due to the company’s failure to meet the requirements for continued listing. David Sambrooks commented: “We are committed to having the common stock listed on an active exchange and we expect to seek relisting on an exchange as soon as we meet the listing requirements.” Prior to qualifying for a new listing, the common stock is expected to immediately trade in the OTCQB market under a new ticker symbol.

About Sabine

Sabine Oil & Gas LLC is an independent energy company engaged in the acquisition, production, exploration and development of onshore oil and natural gas properties in the United States. Sabine’s current operations are principally located in Cotton Valley Sand and Haynesville Shale in East Texas, the Eagle Ford Shale in South Texas, and the Granite Wash in the Texas Panhandle. For more information about Sabine, please visit its website at www.sabineoil.com.

About Forest Oil

Forest Oil Corporation is engaged in the acquisition, production, exploration, and development of natural gas and liquids in the United States. Forest’s principal reserves and producing properties are located in East Texas, the Eagle Ford in South Texas and Louisiana. For more information about Forest Oil, please visit its website at www.forestoil.com.

Biographies for Thomas Chewning and Michael Magilton

Thomas Chewning – Director
Mr. Chewning has over 40 years of experience in a variety of businesses, with tenures as chief executive officer and chief financial officer. He began his career as a commercial lending officer and executive in the commercial banking industry, and served as President of Air Van Lines, Inc. Mr. Chewning joined Dominion Resources, Inc. in 1987 where he held a variety of financial positions with the company’s operating subsidiaries. From 1995-1999 he held the positions of President and Chief Executive Officer of Dominion Energy, a Dominion Resources subsidiary, and led Dominion’s acquisition and development of its oil and gas properties. In 1999, Mr. Chewning was named Chief Financial Officer of Dominion Resources, a position he held until his retirement in 2009. Mr. Chewning received a Bachelor of Arts degree in History from the University of North Carolina at Chapel Hill and his MBA from the Wharton School of Finance.

Michael Magilton - Senior Vice President and Chief Financial Officer
Mr. Magilton is completing his tenure as Vice President, Finance & Treasurer of Quantum Resources Management, which he joined in 2011. He previously served as a Vice President with Aurora Capital Group from 2007 to 2010 and prior to that held positions in private equity with Wellspring Capital Management and First Reserve Corporation. Mr. Magilton began his career as an investment banking analyst with Banc of America Securities and Morgan Stanley. Mr. Magilton graduated with a Bachelor of Science degree in Business Administration from Creighton University, with a double major in International Business and Finance, and obtained his MBA from Harvard Business School.

[TESLA777]

Sabine Oil & Gas and Forest Oil Complete All-Stock Business Combination

http://investors.sabineoil.com/phoenix.zhtml?c=92251&p=irol-newsArticle&ID=1999888

Sabine to own 73.5% of the combined company, as previously announced, with voting power capped at 49.9%

Revised transaction terms require no refinancing of Forest and Sabine outstanding bonds, reducing transaction costs and interest expense by more than $100 million over the next three years

The combined company will have in excess of $480 million of liquidity at closing

Complementary acreage positions create an upstream industry leader in East Texas

HOUSTON, TEXAS and DENVER, COLORADO – December 16, 2014 – Sabine Oil & Gas LLC (“Sabine”) and Forest Oil Corporation (“Forest”) announced that they have closed today the previously reported all-stock business combination on a revised basis.

The combined entity intends to change its name to Sabine Oil & Gas Corporation, and is expected to be one of the upstream industry’s largest operators and lease holders in East Texas, benefiting from management expertise, streamlined operations and economies of scale. The combination also results in core positions in the Eagle Ford, North Louisiana Haynesville and Granite Wash that provide optionality for development and monetization.

David Sambrooks, the combined company’s President and CEO, commented:

“Since we announced the combination in May 2014, market dynamics have changed considerably but the logic for combining these two complementary companies has not. Today’s closing will create a strong platform for growth and bring stability and upside opportunity to stockholders of the combined company. The combined asset portfolio creates one of the upstream industry’s largest East Texas players, while generating operating synergies, economies of scale and optimized capital allocation.”
Patrick McDonald, Forest’s President and CEO, commented:

“This combination, as revised, is clearly in the best interest of Forest and its shareholders, and we are very pleased to have completed it.”

Revised Transaction Terms

At closing, the owners of Sabine (the “Sabine Investor Entities”) contributed their interests in Sabine to Forest, in exchange for common stock and non-voting convertible preferred stock of Forest representing an aggregate 73.5% economic interest in the combined company. Existing Forest common shareholders retained their Forest shares, which now represent, in the aggregate, a 26.5% economic interest in the combined company. Under the revised terms, the Sabine Investor Entities’ will hold approximately 40% of the voting power of the combined company (with Forest’s existing shareholders retaining approximately 60% of the voting power). The preferred stock issued to the Sabine Investor Entities will not be convertible to the extent conversion would cause the combined voting power of the Sabine Investor Entities to exceed 49.9% of the outstanding voting power of the company. The combined entity will be headquartered in Houston, Texas.

Revised Transaction Financing

In connection with the combination, the existing Sabine and Forest revolving credit agreements will be refinanced with a new reserve-based lending credit agreement (the “RBL Revolver”) at the combined company level. The RBL Revolver will have a borrowing base of $1 billion at closing. In addition, the combined company expects to incur an additional $50 million of second lien term loans under its existing second lien term loan facility in connection with the closing. Under the revised transaction terms, no change of control will result under the indentures governing Forest’s and Sabine’s outstanding bonds or Sabine’s second lien term loan, all of which will remain outstanding after closing. The RBL Revolver, the second lien term loan facility and the outstanding Forest and Sabine bonds will reside at the surviving company in the combination. As a result of the revised transaction terms, the $850 million of bridge commitments previously obtained to finance the repurchase of the Forest bonds under the prior transaction terms are no longer necessary. The combined company will save at least $100 million in transaction costs and interest expenses over the next three years by leaving the Forest bonds outstanding.

[TESLA777]

Forest Oil Shareholders Approve Business Combination with Sabine Oil & Gas

http://investors.sabineoil.com/phoenix.zhtml?c=92251&p=irol-newsArticle&ID=1991721

DENVER--(BUSINESS WIRE)--Nov. 20, 2014-- Forest Oil Corporation (NYSE:FST) (Forest or the Company) today announced that its shareholders have approved, by majority vote of the outstanding shares of Forest, all of the proposals that were presented with respect to the previously announced business combination transaction with Sabine Oil & Gas LLC at the Company’s special meeting of shareholders held today. Forest will file the voting results for each of the proposals with the SEC within four business days.

Closing of the combination transaction remains subject to other closing conditions. Forest anticipates that the transaction will close in December 2014.

[TESLA777]

$FSTO, 12-30-2014

Price.....% Chg.....$ Volume.....Share Vol.....Trades

0.2474.....-8.37.......724,315.....2,827,151.....262

[TESLA777]

Common Stock of Newly Combined Sabine Oil & Gas & Forest Oil to Trade on the OTCQB Market Under the New Trading Symbol “FSTO".

http://ih.advfn.com/p.php?pid=nmona&article=64832286

12/17/2014
Forest Oil Corporation (OTCQB:FSTO) (which is in the process of changing its name to Sabine Oil & Gas Corporation) announced today that following its recently completed business combination with Sabine Oil & Gas, the common stock of the combined entity will begin trading on the OTCQB marketplace at the open of the market today, December 17, 2014. As previously disclosed, Forest Oil was delisted from the New York Stock Exchange (the “NYSE”) on December 16, 2014 following completion of the business combination.

Investors will be able to view the RealTime Level II stock quote, which provides detailed information by market maker, for the combined company at http://www.otcmarkets.com, under the ticker symbol “FSTO”.

The move from the NYSE to OTCQB Marketplace does not change SEC reporting obligations under applicable securities laws. Accordingly, the combined company will continue to file, among others, Quarterly Reports on Form 10-Q, Annual Reports on Form 10-K and Current Reports on Form 8-K.

As previously disclosed, the company remains committed to listing its common stock on an active exchange and expects to seek relisting on an exchange as soon as it meets applicable listing requirements.

Forest Oil, which is in the process of changing its name to Sabine Oil & Gas Corporation, is an independent energy company engaged in the acquisition, production, exploration and development of onshore oil and natural gas properties in the United States. Forest Oil’s current operations are principally located in the Cotton Valley Sand and Haynesville Shale in East Texas, the Eagle Ford Shale in South Texas, the Granite Wash in the Texas Panhandle and the North Louisiana Haynesville. For more information, please visit www.sabineoil.com and www.forestoil.com.