2014 News Releases

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12/17/14Common Stock of Newly Combined Sabine Oil & Gas and Forest Oil to Trade on the OTCQB Market Under the New Trading Symbol "FSTO"
HOUSTON, TEXAS– December 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, 20... 
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12/16/14Sabine Oil & Gas and Forest Oil Complete All-Stock Business Combination
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   HO... 
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12/09/14Forest Oil Receives Continued Listing Standards Notice from the NYSE
DENVER--(BUSINESS WIRE)--Dec. 9, 2014-- Forest Oil Corporation (NYSE:FST) (“Forest” or the “Company”) reported today that the New York Stock Exchange (“NYSE”) notified the Company on November 5, 2014 that it has not met the NYSE's continued listing standard that requires a minimum average closing price of $1.00 per share over 30 consecutive trading days. Under NYSE rules, Forest has six months following receipt of the notification to regai... 
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11/20/14Forest Oil Shareholders Approve Business Combination with Sabine Oil & Gas
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 ... 
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11/17/14Forest Oil Announces Agreement to Sell Arkoma Basin Natural Gas Properties
DENVER--(BUSINESS WIRE)--Nov. 17, 2014-- Forest Oil Corporation (NYSE:FST) (Forest or the Company) today announced that it has entered into a definitive agreement to sell its natural gas properties located in the Arkoma Basin for after-tax cash proceeds of approximately $185 million. The transaction is expected to close on or before December 15, 2014, with an economic effective date of October 1, 2014, and is subject to customary closing conditions and ... 
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11/10/14Forest Oil Announces Third Quarter 2014 Results
Business Combination with Sabine Oil & Gas Proceeding; Shareholder Vote Scheduled for November 20, 2014 Third Quarter 2014 Average Net Sales Volumes of 109 MMcfe/d (67% Natural Gas, 33% Liquids), a 9% sequential increase over the second quarter of 2014 Completed Three Liquids-Rich Cotton Valley Wells with a 30-Day Average Gross Production Rate of 7 MMcfe/d (36% liquids) Completed an East Texas Oil Well with a 30-Day Average... 
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10/20/14Forest Oil Announces Commencement of Proxy Mailing
DENVER--(BUSINESS WIRE)--Oct. 20, 2014-- Forest Oil Corporation (NYSE:FST) (“Forest”) announced today that it will commence mailing definitive proxy materials today in connection with the meeting to Forest shareholders for the purpose of voting on the previously announced business combination transaction between Sabine Oil & Gas LLC (“Sabine”) and Forest. Today’s action follows completion of the Securities and Exchange Commission review process last week... 
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10/06/14Forest Oil and Sabine Oil & Gas Provide Merger Update
Special meeting of shareholders scheduled for November 20, 2014 pending completion of SEC proxy statement review; record date set as October 3, 2014 Forest and Sabine remain committed to completing transaction in 2014 DENVER & HOUSTON--(BUSINESS WIRE)--Oct. 6, 2014-- Forest Oil Corporation (NYSE:FST) (“Forest”) and Sabine Oil & Gas (“Sabine”) announced today that the proposed business combination transaction between Forest an... 
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10/01/14Forest Oil Announces Completion of Audit Procedures
No changes to previously reported financial results Amended 10K and 10Qs filed with the SEC DENVER--(BUSINESS WIRE)--Oct. 1, 2014-- Forest Oil Corporation (NYSE:FST) (“Forest”) announced today that management and the company’s independent auditor, Ernst & Young LLP (“EY”), have completed the incremental procedures that were previously disclosed on August 11, 2014. No restatements to the previously issued financial statements were id... 
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08/11/14Forest Oil Announces Second Quarter 2014 Results
DENVER--(BUSINESS WIRE)--Aug. 11, 2014-- Forest Oil Corporation (NYSE:FST) (Forest or the Company) today announced financial and operational results for the second quarter of 2014. For the three months ended June 30, 2014, Forest reported a net loss of $83 million, or $(0.71) per diluted share, compared to a net loss of $21 million, or $(0.18) per share in the first quarter of 2014. Net loss for the second quarter of 2014 included the foll... 
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07/10/14Forest Oil Announces Agreement with Sabine Oil & Gas to Revise Transaction Structure and Adoption of Shareholder Rights Plan
New structure requires only majority approval Sabine and Forest economic interests post transaction remain 73.5% / 26.5%, respectively Shareholder rights plan adopted to protect interest of Forest shareholders DENVER--(BUSINESS WIRE)--Jul. 10, 2014-- Forest Oil Corporation (NYSE:FST) (“Forest”) today announced that it has reached an agreement with Sabine Oil & Gas LLC (“Sabine Oil & Gas”) to amend their previously announ... 
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05/06/14Sabine Oil & Gas and Forest Oil Announce Definitive Merger Agreement
Complementary acreage positions create an industry leader in East Texas HOUSTON & DENVER--(BUSINESS WIRE)--May 6, 2014-- Sabine Oil & Gas LLC (“Sabine”) and Forest Oil Corporation (NYSE:FST) (”Forest”), today announced the signing of a definitive merger agreement under which Sabine and Forest will combine their businesses in an all-stock transaction. Sabine and Forest’s highly complementary asset portfolios will create one of the industry’s la... 
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05/06/14Forest Oil Announces First Quarter 2014 Results
First Quarter 2014 Average Net Sales Volumes of 105 MMcfe/d (68% Natural Gas, 32% Liquids) Completed Six Eagle Ford Wells with a 30-Day Average Gross Production Rate of 418 Boe/d (93% oil) Eagle Ford Drilling and Completion Costs Averaged Approximately $4.5 Million Per Well in the First Quarter 2014 Completed a Liquids-Rich Cotton Valley Well with a 30-Day Average Gross Production Rate of 7 MMcfe/d; Drilled and Completed fo... 
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04/17/14Forest Oil Announces First Quarter 2014 Earnings Release Date and Teleconference
DENVER--(BUSINESS WIRE)--Apr. 17, 2014-- Forest Oil Corporation (NYSE:FST) (Forest or the Company) announced today that its first quarter 2014 earnings release will be issued after the close of trading on the New York Stock Exchange on Tuesday, May 6, 2014. A conference call is scheduled for Wednesday, May 7, 2014, at 7:00 AM MT to discuss the release. You may access the call by dialing toll free 800.299.9086 (for U.S./Canada) and 617.786.... 
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03/31/14Forest Oil Announces Update to Credit Facility
DENVER--(BUSINESS WIRE)--Mar. 31, 2014-- Forest Oil Corporation (NYSE:FST) (Forest or the Company) today announced that the lenders under the Company’s revolving credit facility have completed their regularly scheduled semi-annual redetermination of the Company’s borrowing base. As part of the redetermination process, Forest and the lenders agreed to amend the facility to provide for, among other things, an increase in the permitted maximu... 
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02/25/14Forest Oil Announces Fourth Quarter and Year-End 2013 Results
Fourth Quarter 2013 Average Net Sales Volumes of 165 MMcfe/d (62% Natural Gas, 38% Liquids) Fourth Quarter 2013 Average Net Sales Volumes of 111 MMcfe/d (68% Natural Gas, 32% Liquids) Pro Forma for Divestitures 2013 Average Oil Net Sales Volumes Increase 55% Compared to 2012 Pro Forma for Divestitures 2013 Average Liquids Net Sales Volumes Increase 41% Compared to 2012 Pro Forma for Divestitures 2013 Estimate... 
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02/04/14Forest Oil Announces Fourth Quarter and Year End 2013 Earnings Release Date and Teleconference
DENVER--(BUSINESS WIRE)--Feb. 4, 2014-- Forest Oil Corporation (NYSE:FST) (Forest or the Company) announced today that its fourth quarter and year end 2013 earnings release will be issued after the close of trading on the New York Stock Exchange on Tuesday, February 25, 2014. A conference call is scheduled for Wednesday, February 26, 2014, at 7:00 AM MT to discuss the release. You may access the call by dialing toll free 800.295.4740 (for ... 
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