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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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SCHEDULE 14D-9
Solicitation/Recommendation Statement
Under Section 14(d)(4) of the
Securities Exchange Act of 1934
Devx Energy, Inc.
(Name of Subject Company)
Devx Energy, Inc.
(Name of Person(s) Filing Statement)
Common Stock, par value $.234 per share
(Title of Class of Securities)
25189P 20 3
(CUSIP Number of Class of Securities)
William W. Lesikar
Senior Vice President and
Chief Financial Officer
Devx Energy, Inc.
13760 Noel Road, Suite 1030
Dallas, Texas 75240-7336
972-233-9906
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications on Behalf of the Person Filing Statement)
With a copy to:
William L. Boeing
Haynes and Boone, LLP
1600 N. Collins, Suite 2000
Richardson, Texas 75080
(972) 680-7550
[X] Check the box if the filing relates solely to preliminary communications
made before the commencement of a tender offer.
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[DEVX ENERGY, INC. LETTERHEAD]
NEWS RELEASE
FOR IMMEDIATE RELEASE
For More Information: DevX Energy, Inc., Dallas
William W. Lesikar, 972/233-9906
www.devxenergy.com
LETTER OF INTENT SIGNED FOR THE SALE OF DEVX ENERGY, INC.
DALLAS--(BUSINESS WIRE)--Oct. 22, 2001--Comstock Resources, Inc. (NYSE:CRK) and
DevX Energy, Inc. (Nasdaq:DVXE) announced today that they have executed a
non-binding letter-of-intent which provides for Comstock to offer to purchase
all of DevX's common stock for cash at $7.32 per share subject to negotiation
and execution of a definitive agreement and approval by each company's board of
directors. There is no assurance that a definitive agreement will be reached or
a transaction will be completed.
Comstock Resources, Inc. is a growing independent energy company based in
Frisco, Texas and is engaged in oil and gas acquisitions, exploration and
development primarily in Texas, Louisiana and the Gulf of Mexico. The company's
stock is traded on the New York Stock Exchange under the symbol CRK.
DevX Energy, Inc. is an independent energy company engaged in the exploration,
development, exploitation and acquisition of on-shore oil and natural gas
properties in conventional producing areas of North America. Our properties are
concentrated in five producing areas or basins and over 50% of our proved
reserves are concentrated in south and east Texas.
This release is neither an offer to purchase nor a solicitation of an offer to
sell securities of DevX Energy. If a definitive agreement is signed, the tender
offer will be made solely by an offer to purchase and related letter of
transmittal to be disseminated upon the commencement of the tender offer.
Stockholders of DevX should read the tender offer documents, including the DevX
solicitation/recommendation statement when it is available, because they contain
important information. Stockholders may obtain a free copy of these statements
(when available) and other documents filed by DevX and Comstock at the SEC's web
site at www.sec.gov.
We make forward-looking statements in this document, and in our public documents
to which we refer, that are subject to risks and uncertainties in addition to
those set forth above. These forward-looking statements include information
about possible or assumed future results of our operations. Also, when we use
any of the words "believes," "expects," "anticipates" or similar expressions, we
are making forward-looking statements. Many possible events or factors could
affect our future financial results and performance. This could cause our
results or performance to differ materially from those we express in our
forward-looking statements. These and other risks are described in the company's
publicly filed documents and reports that are available from the company and
from the SEC.