PITTSBURGH, June 22 /PRNewswire-FirstCall/ -- CONSOL Energy previously disclosed the trailing twelve month EBITDA (Earnings Before Interest, Taxes, Depreciation, Depletion and Amortization) ending April 30, 2007 for the acquisition of AMVEST Corporation announced on June 18, 2007. The detailed reconciliation can be found on the company's website http://www.consolenergy.com/ under the investor information section.
CONSOL Energy Inc., a member of the Standard & Poor's 500 equity index, has annual revenues of $3.7 billion. The company was named one of America's most admired companies in 2005 by Fortune magazine. It received the U.S. Department of the Interior's Office of Surface Mining National Award for Excellence in Surface Mining for the company's innovative reclamation practices in 2002 and 2003. Also in 2003, the company was listed in Information Week magazine's "Information Week 500" list for its information technology operations. In 2002, the company received a U.S. Environmental Protection Agency Climate Protection Award. Additional information about the company can be found at its web site: http://www.consolenergy.com/.
Forward-Looking Statements
We are including the following cautionary statement in this document to make applicable and take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 for any forward-looking statements made by, or on behalf, of us. With the exception of historical matters various statements in this document, including those that express a belief, expectation, or intention, as well as those that are not statements of historical fact, are forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934) that involve risks and uncertainties that could cause actual results to differ materially from projected results. Accordingly, investors should not place undue reliance on forward-looking statements as a prediction of actual results. The forward-looking statements may include projections and estimates concerning the timing and success of specific projects and our future production, revenues, income and capital spending. When we use the words "believe," "intend," "expect," "may," "should," "anticipate," "could," "would," "will," "estimate," "plan," "predict," "project," or their negatives, or other similar expressions, the statements which include those words are usually forward-looking statements. When we describe strategy that involves risks or uncertainties, we are making forward-looking statements. The forward-looking statements in this document speak only as of the date of this document; we disclaim any obligation to update these statements unless required by securities law, and we caution you not to rely on them unduly. We have based these forward-looking statements on our current expectations and assumptions about future events. While our management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond our control. These risks, uncertainties and contingencies include, but are not limited to, the following:
-- an extended decline in prices we receive for our coal and gas affecting
our operating results and cash flows;
-- reliance on customers extending existing contracts or entering into new
long-term contracts for coal;
-- reliance on major customers;
-- our inability to collect payments from customers if their
creditworthiness declines;
-- the disruption of rail, barge and other systems that deliver our coal;
-- a loss of our competitive position because of the competitive nature of
the coal industry and the gas industry, or a loss of our competitive
position because of overcapacity in these industries impairing our
profitability;
-- our inability to hire qualified people to meet replacement or expansion
needs;
-- coal users switching to other fuels in order to comply with various
environmental standards related to coal combustion;
-- the inability to produce a sufficient amount of coal to fulfill our
customers' requirements which could result in our customers initiating
claims against us;
-- the risks inherent in coal mining being subject to unexpected
disruptions, including geological conditions, equipment failure, timing
of completion of significant construction or repair of equipment,
fires, accidents and weather conditions which could cause our results
to deteriorate;
-- increases in the price of commodities used in our mining operations
could impact our cost of production;
-- obtaining governmental permits and approvals for our operations;
-- the effects of government regulation;
-- the effects of stringent federal and state safety regulations;
-- the effects of mine closing, reclamation and certain other liabilities;
-- uncertainties in estimating our economically recoverable coal and gas
reserves;
-- we do not insure against all potential operating risks;
-- the outcomes of various legal proceedings, which proceedings are more
fully described in our reports filed under the Securities Exchange Act
of 1934;
-- increased exposure to employee related long-term liabilities;
-- our participation in multi-employer pension plans may expose us to
obligations beyond the obligation to our employees;
-- lump sum payments made to retiring salaried employees pursuant to our
defined benefit pension plan;
-- our ability to comply with laws or regulations requiring that we obtain
surety bonds for workers' compensation and other statutory
requirements;
-- acquisitions that we recently have made or may make in the future
including the accuracy of our assessment of the acquired businesses and
their risks, achieving any anticipated synergies, integrating the
acquisitions and unanticipated changes that could affect assumptions we
may have made;
-- the anti-takeover effects of our rights plan could prevent a change of
control;
-- risks in exploring for and producing gas;
-- new gas development projects and exploration for gas in areas where we
have little or no proven gas reserves;
-- the disruption of pipeline systems which deliver our gas;
-- the availability of field services, equipment and personnel for
drilling and producing gas;
-- replacing our natural gas reserves which if not replaced will cause our
gas reserves and gas production to decline;
-- costs associated with perfecting title for gas rights in some of our
properties;
-- we need to use unproven technologies to extract coalbed methane on some
of our properties;
-- location of a vast majority of our gas producing properties in three
counties in southwestern Virginia, making us vulnerable to risks
associated with having our gas production concentrated in one area;
-- other persons could have ownership rights in our advanced gas
extraction techniques which could force us to cease using those
techniques or pay royalties;
-- the coalbeds from which we produce methane gas frequently contain water
that may hamper production; and
-- other factors discussed in our 2006 Form 10-K under "Risk Factors," as
updated by any subsequent Form 10-Qs, which are on file at the
Securities and Exchange Commission.
CONSOL Energy undertakes no obligation to update these statements unless otherwise required by applicable law.
