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| Filed Pursuant to Rule 425 Filing Person: Evergreen Resources, Inc. (001-13171) Subject Company: Carbon Energy Corporation (1-15639) |
Four slides included in a presentation by Mark Sexton, President and Chief Executive Officer of Evergreen Resources, Inc., to Hibernia Southcoast Capital on March 31, 2003 related to Evergreen's proposed acquisition of Carbon Energy Corporation. These slides may also be included in subsequent presentations by Mr. Sexton or other officers of Evergreen.
The first slide graphically depicts the location of Carbon Energy's U. S. assets in the Uintah Basin of Colorado and Utah and the Piceance Basin in Colorado.
The second slide graphically depicts the location of Carbon Energy's Canadian assets in three locations in the Western Canadian Sedimentary Basin (Rowley, Carbon and Hoffer).
The third and fourth slides are set forth below:
Carbon Energy U.S. Assets EVERGREEN
Carbon Energy — Canada Assets EVERGREEN
Carbon Energy Acquisition EVERGREEN
- •
- Perfect fit with business strategy of acquiring and developing unconventional natural gas properties in North America
- •
- Piceance Basin in Colorado
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- Uintah Basin in Utah
United States
- •
- Central Alberta and southeast Saskatchewan
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- Access to large acreage position
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- Exploratory reserve potential in multiple formations
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- Proven Management & Technical teams in place
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- Exchange Ratio — 0.275
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- Evergreen common stock — 1.86 MM shares
- •
- Total Value of Stock to be issued @ $45.40 — $84.4 MM
- •
- Assumption of Carbon's debt — $6.4 MM
Canada
Carbon Energy Acquisition EVERGREEN
Carbon Summary
| | United States | Canada | Total | ||||
|---|---|---|---|---|---|---|---|
| Gross acreage position | 150,000 | 77,000 | 227,000 | ||||
Current Daily Production (mmcfd) | 5.0 | 8.3 | 13.3 | ||||
Reserves (mmcfe) | |||||||
Total Proved Developed | 21,790 | 20,506 | 42,296 | ||||
| Proved Undeveloped | 34,805 | 10,618 | 45,423 | ||||
Total Proved | 56,595 | 31,124 | 87,719 | ||||
Probable | 20,493 | 7,964 | 28,457 | ||||
| Possible | 103,380 | 10,618 | 113,998 | ||||
Total Probable & Possible | 123,873 | 18,582 | 142,455 | ||||
Total Proved, Probable and Possible reserves | 180.468 | 49.706 | 230.174 | ||||
Carbon Energy U.S. Assets EVERGREEN
Carbon Energy — Canada Assets EVERGREEN
Carbon Energy Acquisition EVERGREEN
Carbon Energy Acquisition EVERGREEN