Contact Information: Contacts: United Refining Energy Corp. Investor inquiries: Matthew Abenante Capital Link, Inc. 212-661-7566 URX@CapitalLink.com Website: www.urxny.com Media inquiries: Gerald McKelvey Rubenstein Associates, Inc. 212-843-8013 gmckelvey@rubenstein.com Chaparral Energy, Inc. Investor inquiries: Joe Evans, CFO 405-478-8770 joe.evans@chaparralenergy.com Media inquiries: Lisa Elliott DRG&E 713-529-6600 lelliott@drg-e.com
United Refining Energy to Present at the 2009 FBR Capital Markets Fall Investor Conference
| Source: United Refining Energy Corp.
NEW YORK, NY--(Marketwire - December 1, 2009) - United Refining Energy Corp. ("URX"), a
publicly held special purpose acquisition company (NYSE Amex : URX ) (NYSE Amex : URX.U ) (NYSE Amex : URX.WT ), announced today that the Company's
Chairman and Chief Executive Officer, John Catsimatidis, will present at
the 2009 FBR Capital Markets Fall Investor Conference in New York City on
Wednesday, December 2nd, 2009, at 8:30 a.m. EST.
The presentation will be broadcast live over the internet by accessing
http://www.wsw.com/webcast/fbr23/urx and will also be available on the
company's website www.urxny.com under "presentations."
About United Refining Energy Corp.
URX is a special purpose acquisition company formed in 2007 for the purpose
of acquiring, through a merger, capital stock exchange, asset acquisition,
stock purchase, reorganization or similar business combination with one or
more businesses or assets in the energy industry. The Company's initial
public offering ("IPO") of units was consummated on December 11, 2007,
raising net proceeds of approximately $464 million (which includes the
proceeds of a private placement of 15,600,000 warrants for $15.6 million to
its sponsor), of which approximately $449 million was placed in a trust
account immediately following the IPO. Each unit is composed of one share
of Company common stock and one warrant with an exercise price of $7.00. As
of November 20, 2009, URX held approximately $451.4 million (or
approximately $10.03 per share) in a trust account maintained by an
independent trustee, which will be released upon the consummation of the
proposed transaction. For more information on URX, please refer to SEC
filings or visit www.urxny.com.
About Chaparral Energy, Inc.
Chaparral is an independent oil and natural gas exploitation and production
company headquartered in Oklahoma City, Oklahoma. Since its inception in
1988, Chaparral has increased reserves and production primarily by
acquiring and enhancing properties in its core areas of the Mid-Continent
and the Permian Basin. Beginning in 2000, Chaparral expanded its geographic
focus to include additional areas of Gulf Coast, Ark-La-Tex, North Texas
and the Rocky Mountains. For more information on Chaparral please visit
www.chaparralenergy.com.
Forward-Looking Statements
This press release may contain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995 regarding
URX, Chaparral and the combined entity's business after completion of the
proposed transactions. Forward-looking statements are statements that are
not historical facts. Such forward-looking statements, which are based upon
the current beliefs and expectations of the management of URX and
Chaparral, are subject to risks and uncertainties, which could cause actual
results to differ from the forward-looking statements. Certain factors,
which are set forth in URX's proxy statement/prospectus mailed on November
30, 2009, could cause actual results to differ from those set forth in the
forward-looking Statements. The information set forth herein should be read
in light of such risks. Neither URX nor Chaparral assumes any obligation to
update the information contained in this release.
Additional Information and Where to Find It
This press release is being made pursuant to and in compliance with Rules
145, 165 and 425 of the Securities Act of 1933, as amended, and does not
constitute an offer of any securities for sale or a solicitation of an
offer to buy any securities. URX, Chaparral and their respective directors
and officers may be deemed to be participants in the solicitation of
proxies for the special meetings of URX's stockholders and warrantholders
to be held to approve the proposed transactions described herein. The
underwriters of URX's initial public offering may provide assistance to
URX, Chaparral and their respective directors and executive officers, and
may be deemed to be participants in the solicitation of proxies. A
substantial portion of the underwriters' fees relating to URX's initial
public offering were deferred pending stockholder approval of URX's initial
business combination, and stockholders are advised that the underwriters
have a financial interest in the successful outcome of the proxy
solicitation. URX's stockholders and warrantholders are advised to read,
when available, the proxy statement/prospectus filed with the SEC on
November 30, 2009, as well as other documents filed with the SEC in
connection with the solicitation of proxies for the special meetings
because these documents contain important information. URX's stockholders
and warrantholders will be able to obtain a copy of the proxy
statement/prospectus, without charge, by directing a request to: United
Refining Energy Corp., 823 Eleventh Avenue, New York, NY 10019, or obtain a
copy, without charge, at the SEC's website at http://www.sec.gov.