Denbury Resources Inc. (NYSE: DNR) (“Denbury”) and Encore Acquisition Company (NYSE: EAC) (“Encore”) today jointly announced that they have received the requisite stockholder approval to merge Encore with and into Denbury. Special meetings of the stockholders of each of Denbury and Encore were held this morning to consider and vote upon proposals to adopt the Agreement and Plan of Merger, dated as of October 31, 2009, by and between Denbury and Encore, which provide for, among other things, the merger of Encore with and into Denbury, and in Denbury’s case the issuance of Denbury common stock to Encore stockholders as part of the merger consideration. The combined company will continue to be known as Denbury Resources Inc. (the “Company”) and will be headquartered in Plano, Texas. Denbury and Encore will consummate the merger upon completion of final documentation and filings for the merger and associated financing. About Denbury Denbury Resources Inc. ( http://www.denbury.com) is a growing independent oil and natural gas company. Denbury is the largest oil and natural gas operator in Mississippi, owns the largest reserves of CO 2 used for tertiary oil recovery east of the Mississippi River, and holds significant operating acreage in Louisiana, Alabama, and Southeast Texas. Denbury's goal is to increase the value of acquired properties through tertiary recovery operations, combined with a combination of exploitation, drilling, and proven engineering extraction practices. Denbury is headquartered in Plano, Texas (a suburb of Dallas) and employs approximately 830 employees, the majority of whom are employed in field operations or field offices. About Encore Encore Acquisition Company ( www.encoreacq.com) is engaged in the acquisition and development of oil and natural gas reserves from onshore fields in the United States. Since 1998, Encore has acquired producing properties with proven reserves and leasehold acreage and grown the production and proven reserves by drilling, exploring, reengineering or expanding existing waterflood projects, and applying tertiary recovery techniques. Encore is headquartered in Fort Worth, Texas.
Cautionary Note on Forward-Looking StatementsCertain statements in this release may constitute "forward-looking statements" within the meaning of Federal securities laws. The events and circumstances referred to in forward-looking statements are subject to numerous risks and uncertainties that are detailed in Denbury's and Encore’s filings with the Securities and Exchange Commission, including their most recent reports on Form 10-K. These risks and uncertainties are incorporated by this reference as though fully set forth herein and these events and circumstances may be influenced by factors that could cause actual outcomes and results to be materially different from those projected. All written and oral forward-looking statements attributable to Denbury or Encore or persons acting on their behalf are expressly qualified in their entirety by such factors. Except for its obligations to disclose material information under United States federal securities laws, Denbury does not undertake any obligation to publicly release any revision to any forward-looking statement, to report events or circumstances after the date of this document, or to report the occurrence of unanticipated events.