SOURCE: Quicksilver Resources Inc.

October 01, 2007 16:48 ET

Notice of Convertibility for Debentures

FORT WORTH, TX--(Marketwire - October 1, 2007) - Quicksilver Resources Inc. (NYSE: KWK) today announced that, due to the satisfaction of the market price condition to conversion, the company's 1.875% Convertible Subordinated Debentures due 2024 (the "Debentures") are convertible during the fiscal quarter ending December 31, 2007. Pursuant to the terms of the indenture under which the Debentures were issued, the Debentures are currently convertible at a rate of 32.7209 shares of common stock of Quicksilver Resources per $1,000 principal amount of the Debentures (such conversion rate having been adjusted to account for a 3-for-2 stock split effected in the form of a stock dividend on June 30, 2005). These shares are included in the company's fully diluted earnings per share calculation.

About Quicksilver Resources

Fort Worth, Texas-based Quicksilver Resources is a natural gas and crude oil exploration and production company engaged in the development and acquisition of long-lived, unconventional natural gas reserves, including coal bed methane, shale gas, and tight sands gas in North America. The company has U.S. offices in Fort Worth, Texas; Granbury, Texas; Gaylord, Michigan; Corydon, Indiana and Cut Bank, Montana. Quicksilver's Canadian subsidiary, Quicksilver Resources Canada Inc., is headquartered in Calgary, Alberta. For more information about Quicksilver Resources, visit www.qrinc.com.

Forward-Looking Statements

The statements in this press release regarding future events, occurrences, circumstances, activities, performance, outcomes and results are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although these statements reflect the current views, assumptions and expectations of Quicksilver Resources' management, the matters addressed herein are subject to numerous risks and uncertainties, which could cause actual activities, performance, outcomes and results to differ materially from those indicated. Factors that could result in such differences or otherwise materially affect Quicksilver Resources' financial condition, results of operations and cash flows include: changes in general economic conditions; fluctuations in natural gas and crude oil prices; failure or delays in achieving expected production from natural gas and crude oil exploration and development projects; effects of hedging natural gas and crude oil prices; uncertainties inherent in estimates of natural gas and crude oil reserves and predicting natural gas and crude oil reservoir performance; competitive conditions in our industry; actions taken by third-party operators, processors and transporters; changes in the availability and cost of capital; delays in obtaining oilfield equipment and increases in drilling and other service costs; operating hazards, natural disasters, weather-related delays, casualty losses and other matters beyond our control; the effects of existing and future laws and governmental regulations; and the effects of existing or future litigation; as well as, other factors disclosed in Quicksilver Resources' filings with the Securities and Exchange Commission. Except as required by law, we do not intend to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

KWK 07-16

Contact Information

  • Investor & Media Contact:
    Quicksilver Resources Inc.
    Rick Buterbaugh
    (817) 665-4835