Clayton Williams Energy (CWEI) OIL Message Board

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Gold/Mining/Energy : Clayton Williams Energy (CWEI) OIL

CWEI 131.90

0.0%

Apr 25 5:00 PM EST

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To: Buzz Mills who wrote (26)	11/14/1996 3:05:00 PM
From: Buzz Mills	of 1017

News Release from CWEI CLAYTON WILLIAMS ENERGY ANNOUNCES OFFERING > > Midland, Texas, November 14, 1996 - Clayton Williams Energy, Inc. (NASDAQ - NMS:CWEI) announced today that it has priced its public offering of 1,250,000 shares of common stock at $13.00 per share. The managing underwriters for the offering are Rodman & Renshaw, Inc. and Hanifen, Imhoff Inc. > The Company plans to use the net proceeds of the offering to reduce the Company's indebtedness. The Company plans to use its increased borrowing capacity, together with internally generated funds, to finance its 1997 capital expenditure program and to conduct and evaluate one or more 3-D seismic surveys in search of Cotton Valley pinnacle reef formations on a portion of the Company's acreage in the Giddings field. Clayton Williams Energy, Inc. is an independent energy company located in Midland, Texas. >

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