|
ENRON WITHDRAWS PROPOSAL TO SELL INTEREST IN ENRON OIL & GAS COMPANY
FOR IMMEDIATE RELEASE: Friday, May 07, 1999
HOUSTON - Enron announced today that it has notified the independent committee of the board of directors of Enron Oil & Gas Company (EOG) that Enron has withdrawn the previously announced proposal made by a third party relating to the sale of Enron’s interest in EOG. In light of the withdrawal, Enron has filed an amendment to its Schedule 13D with the Securities and Exchange Commission.
“Our principal motivation in evaluating offers for our interest in EOG has always been, and will continue to be, maximizing the value of that investment to Enron’s shareholders,” said Kenneth L. Lay, Enron chairman and CEO. “We will continue to explore opportunities to maximize the value of our investment in EOG.”
Enron is one of the world's leading integrated electricity and natural gas companies. The company, which owns approximately $30 billion in energy related assets, produces electricity and natural gas, develops, constructs and operates energy facilities worldwide and delivers physical commodities and risk management and financial services to customers around the world. Enron's Internet address is www.enron.com, and the stock is traded under the ticker symbol, "ENE."
Click here to download this press release in Microsoft Word format.
For additional information please contact:
Mark Palmer
(713) 853-4738
 |
