CONSOL Energy Reconciliation of EBITDA for AMVEST Acquisition
June 22 2007 - 4:59PM
PR Newswire (US)
PITTSBURGH, June 22 /PRNewswire-FirstCall/ -- CONSOL Energy
previously disclosed the trailing twelve month EBITDA (Earnings
Before Interest, Taxes, Depreciation, Depletion and Amortization)
ending April 30, 2007 for the acquisition of AMVEST Corporation
announced on June 18, 2007. The detailed reconciliation can be
found on the company's website http://www.consolenergy.com/ under
the investor information section. CONSOL Energy Inc., a member of
the Standard & Poor's 500 equity index, has annual revenues of
$3.7 billion. The company was named one of America's most admired
companies in 2005 by Fortune magazine. It received the U.S.
Department of the Interior's Office of Surface Mining National
Award for Excellence in Surface Mining for the company's innovative
reclamation practices in 2002 and 2003. Also in 2003, the company
was listed in Information Week magazine's "Information Week 500"
list for its information technology operations. In 2002, the
company received a U.S. Environmental Protection Agency Climate
Protection Award. Additional information about the company can be
found at its web site: http://www.consolenergy.com/.
Forward-Looking Statements We are including the following
cautionary statement in this document to make applicable and take
advantage of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995 for any forward-looking statements
made by, or on behalf, of us. With the exception of historical
matters 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) that involve risks and uncertainties that could cause
actual results to differ materially from projected results.
Accordingly, investors should not place undue reliance on
forward-looking statements as a prediction of actual results. The
forward-looking statements may include projections and estimates
concerning the timing and success of specific projects and 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 following: -- an extended decline in prices we receive for our
coal and gas affecting our operating results and cash flows; --
reliance on customers 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; -- 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 cause our results to
deteriorate; -- 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 government regulation; -- the effects of stringent
federal and state safety regulations; -- the effects of mine
closing, reclamation and certain other liabilities; --
uncertainties in estimating our economically recoverable coal and
gas reserves; -- we do not insure against all potential operating
risks; -- 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; -- our participation in
multi-employer pension plans may expose us to obligations beyond
the obligation to our employees; -- 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; -- we need to use unproven technologies to extract
coalbed methane on some of our properties; -- location of a vast
majority of our gas producing properties in three counties in
southwestern Virginia, making us vulnerable to risks associated
with having our gas production concentrated in one area; -- other
persons could have ownership rights in our advanced gas extraction
techniques which could force us to cease using those techniques or
pay royalties; -- the coalbeds from which we produce methane gas
frequently contain water that may hamper production; and -- other
factors discussed in our 2006 Form 10-K under "Risk Factors," as
updated by any subsequent Form 10-Qs, which are on file at the
Securities and Exchange Commission. CONSOL Energy undertakes no
obligation to update these statements unless otherwise required by
applicable law. DATASOURCE: CONSOL Energy Inc. CONTACT: Thomas F.
Hoffman, +1-412-831-4060, or Charles E. Mazur, Jr.,
+1-412-831-4340, both of CONSOL Energy Inc. Web site:
http://www.consolenergy.com/
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