-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, LXdEA6aGM74pOgomn4Ce41VYEpx1HRmHJgUlLLMPWjRsnbNV+S1SmiIZHj+qNqv2 LhQVlGiuYK/fs2hSMKnCYw== 0000899243-01-500994.txt : 20010718 0000899243-01-500994.hdr.sgml : 20010718 ACCESSION NUMBER: 0000899243-01-500994 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20010711 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 20010717 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PLAINS RESOURCES INC CENTRAL INDEX KEY: 0000350426 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-PETROLEUM & PETROLEUM PRODUCTS (NO BULK STATIONS) [5172] IRS NUMBER: 132898764 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-10454 FILM NUMBER: 1682719 BUSINESS ADDRESS: STREET 1: 500 DALLAS STREET 2: STE 700 CITY: HOUSTON STATE: TX ZIP: 77002 BUSINESS PHONE: 7136541414 MAIL ADDRESS: STREET 1: 1600 SMITH STREET STREET 2: SUITE 1500 CITY: HOUSTON STATE: TX ZIP: 77002 8-K 1 d8k.txt FORM 8-K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________ FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 ______________________ Date of Report (Date of earliest event reported) July 11, 2001 ------------- PLAINS RESOURCES INC. --------------------- (Exact name of registrant as specified in its charter) Delaware 13-2898764 - ---------------------------------------------- ------------------- (State of other jurisdiction of (I.R.S. Employer incorporation) Identification No.) 0-9808 ------ (Commission File Number) 500 Dallas Street, Suite 700 Houston, Texas 77002 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (713) 654-1414. -------------- ITEM 5. OTHER EVENTS. On July 11, 2001, the Board of Directors of Plains Resources Inc. (the "Company") approved a stock repurchase program to repurchase up to five million shares of the Company's common stock. The Company issued a press release to report this repurchase program, which is included as an exhibit to this report. ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS. (c) Exhibits. 99.1 Press Release issued by the Company on July 12, 2001. 2 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. PLAINS RESOURCES INC. Date: July 16, 2001 /s/ Cynthia A. Feeback ______________________________ Cynthia A. Feeback Vice President -- Accounting 3 INDEX TO EXHIBITS ----------------- No. Exhibit - --- ------- 99.1 Press release issued by the Company on July 12, 2001 4 EX-99.1 2 dex991.txt PRESS RELEASE EXHIBIT 99.1 PLAINS RESOURCES INC. NEWS RELEASE - -------------------------------------------------------------------------------- CONTACT: PAUL H. PRINCE, JR. SENIOR FINANCIAL ANALYST (713) 654-1414 OR (800) 934-6083 FOR IMMEDIATE RELEASE PLAINS RESOURCES INCREASES STOCK REPURCHASE PROGRAM BY FIVE MILLION SHARES Houston, Texas, July 12, 2001 - Plains Resources Inc. (AMEX: PLX) today announced that as a result of repurchasing approximately three million shares of its common stock during the last year under its existing stock repurchase program, which authorized the repurchase of up to three million shares, its Board of Directors approved a program to repurchase up to an additional five million shares of Plains' common stock. "We believe the Company's stock is a good long-term investment," said James C. Flores, Chairman of the Board and Chief Executive Officer. "We are confident in Plains' future and believe this repurchase program provides the Company the additional flexibility to capitalize on opportunities that will produce long-term benefits for the Company and our stockholders." Any repurchases under this program will be consistent with the Company's credit agreement and outstanding indentures. Also, under this program, Plains anticipates the stock will be repurchased through privately negotiated transactions or in the open market. The repurchase program's terms have been structured to comply with the Securities and Exchange Commission's Rule 10b-18, and is subject to market conditions, other applicable legal requirements, and other factors. The repurchase program does not obligate Plains to acquire any specific number of shares and may be suspended at any time. Except for the historical information contained herein, the matters discussed in this news release are forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include, among other things, economic conditions, oil and gas price volatility, uncertainties inherent in the exploration for and development and production of oil and gas and in estimating reserves, availability (or lack thereof) of favorable acquisition or combination opportunities, successful integration and future performance of recently- acquired assets, regulatory changes and other factors discussed in the Company's reports filed with the Securities and Exchange Commission including their reports on Form 10-K (as amended) and Form 10-Q for the periods ended December 31, 2000, and March 31, 2001, respectively. Plains is an independent energy company engaged in the exploration, acquisition, development and exploitation of crude oil and natural gas. Through its ownership in Plains All American Pipeline, L.P., Plains has interests in the midstream activities of marketing, gathering, transportation, terminalling and storage of crude oil. Plains is headquartered in Houston, Texas. # # # -----END PRIVACY-ENHANCED MESSAGE-----