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| CONSOL Energy Will Restart Buchanan Mine |
Company Announces Other Schedule Changes, Adjusts Production Targets The company idled longwall production at its Blacksville #2 mine near
Wana, With these changes in operating plans, as well as with the previously
disclosed plans to idle production beginning "Aggressively managing our coal inventories will be a key factor in
producing solid results in a year like this where energy markets are very
challenging," said Forward-Looking Statements Various statements in this document, including those that express a
belief, expectation, or intention, as well as those that are not statements of
historical fact, are forward-looking statements (as defined in Section 21E of
the Securities Exchange Act of 1934 and the Private Securities Litigation
Reform Act of 1995). The forward-looking statements may include projections
and estimates concerning the timing and success of specific projects, our
future production, revenues, income and capital spending. When we use the
words "believe," "intend," "expect," "may," "should," "anticipate," "could,"
"would," "will," "estimate," "plan," "predict," "project," or their negatives,
or other similar expressions, the statements which include those words are
usually forward-looking statements. When we describe strategy that involves
risks or uncertainties, we are making forward-looking statements. The
forward-looking statements in this document speak only as of the date of this
document; we disclaim any obligation to update these statements unless
required by securities law, and we caution you not to rely on them unduly. We
have based these forward-looking statements on our current expectations and
assumptions about future events. While our management considers these
expectations and assumptions to be reasonable, they are inherently subject to
significant business, economic, competitive, regulatory and other risks,
contingencies and uncertainties, most of which are difficult to predict and
many of which are beyond our control. These risks, uncertainties and
contingencies include, but are not limited to: the deteriorating economic
conditions; an extended decline in prices we receive for our coal and gas
affecting our operating results and cash flows; reliance on customers honoring
existing contracts, extending existing contracts or entering into new
long-term contracts for coal; reliance on major customers; our inability to
collect payments from customers if their creditworthiness declines; the
disruption of rail, barge and other systems that deliver our coal; a loss of
our competitive position because of the competitive nature of the coal
industry and the gas industry, or a loss of our competitive position because
of overcapacity in these industries impairing our profitability; our inability
to hire qualified people to meet replacement or expansion needs; coal users
switching to other fuels in order to comply with various environmental
standards related to coal combustion; the inability to produce a sufficient
amount of coal to fulfill our customers' requirements which could result in
our customers initiating claims against us; foreign currency fluctuations
could adversely affect the competitiveness of our coal abroad; the risks
inherent in coal mining being subject to unexpected disruptions, including
geological conditions, equipment failure, timing of completion of significant
construction or repair of equipment, fires, accidents and weather conditions
which could impact financial results; increases in the price of commodities
used in our mining operations could impact our cost of production; obtaining
governmental permits and approvals for our operations; the effects of
proposals to regulate greenhouse gas emissions; the effects of government
regulation; the effects of stringent federal and state employee health and
safety regulations; the effects of mine closing, reclamation and certain other
liabilities; uncertainties in estimating our economically recoverable coal and
gas reserves; the outcomes of various legal proceedings, which proceedings are
more fully described in our reports filed under the Securities Exchange Act of
1934; increased exposure to employee related long-term liabilities; minimum
funding requirements by the Pension Protection Act of 2006 (the Pension Act)
coupled with the significant investment and plan asset losses suffered during
the current economic decline has exposed us to making additional required cash
contributions to fund the pension benefit plans which we sponsor and the
multi-employer pension benefit plans in which we participate; lump sum
payments made to retiring salaried employees pursuant to our defined benefit
pension plan; our ability to comply with laws or regulations requiring that we
obtain surety bonds for workers' compensation and other statutory
requirements; acquisitions that we recently have made or may make in the
future including the accuracy of our assessment of the acquired businesses and
their risks, achieving any anticipated synergies, integrating the acquisitions
and unanticipated changes that could affect assumptions we may have made; the
anti-takeover effects of our rights plan could prevent a change of control;
risks in exploring for and producing gas; new gas development projects and
exploration for gas in areas where we have little or no proven gas reserves;
the disruption of pipeline systems which deliver our gas; the availability of
field services, equipment and personnel for drilling and producing gas;
replacing our natural gas reserves which if not replaced will cause our gas
reserves and gas production to decline; costs associated with perfecting title
for gas rights in some of our properties; location of a vast majority of our
gas producing properties in three counties in southwestern
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