Quicksilver Resources Inc.

Quicksilver Resources Inc.

January 02, 2007 16:56 ET

Notice of Convertibility for Debentures

FORT WORTH, TX--(CCNMatthews - January 02, 2007) - Quicksilver Resources Inc. (NYSE: KWK) today announced that, due to the satisfaction of the market price condition to conversion, Quicksilver's 1.875% Convertible Subordinated Debentures due 2024 (the "Debentures") are convertible during the fiscal quarter ending March 31, 2007. Pursuant to the terms of the indenture under which the Debentures were issued, the Debentures are currently convertible at a rate of 32.72085 shares of common stock of Quicksilver per $1000 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 currently 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 production company engaged in the development and production of unconventional natural gas reserves, including coal bed methane, shale gas, and tight sands gas. It has U.S. offices in Fort Worth, Texas; Granbury, Texas; Gaylord, Michigan; Corydon, Indiana and Cut Bank, Montana. Quicksilver also has a Canadian subsidiary, Quicksilver Resources Canada Inc., located in Calgary, Alberta. For more information about Quicksilver Resources, visit www.qrinc.com.

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; uncertainties inherent in estimates of natural gas and crude oil reserves and predicting natural gas and crude oil reservoir performance; effects of hedging natural gas and crude oil prices; competitive conditions in our industry; actions taken by third-party operators, processors and transporters; changes in the availability and cost of capital; 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.

Contact Information

    Quicksilver Resources Inc.
    Diane Weaver
    (817) 665-4834