Press release from PR Newswire
Noble Energy Reaffirms Leviathan Estimates
Friday, August 06, 2010
Noble Energy Reaffirms Leviathan Estimates13:22 EDT Friday, August 06, 2010HOUSTON, Aug. 6 /PRNewswire-FirstCall/ -- Noble Energy, Inc. (NYSE: NBL) commented today that, contrary to recent media reporting, it has reaffirmed that the prior resource and chance factor estimates for the Leviathan exploratory prospect in Israel have not changed. Total gross resources for Leviathan are estimated at 16 trillion cubic feet and it has a 50 percent chance of success. This news release includes projections and other "forward-looking statements" within the meaning of the federal securities laws. Such projections and statements reflect Noble Energy's current views about future events and financial performance. No assurances can be given that such events or performance will occur as projected, and actual results may differ materially from those projected. Risks, uncertainties and assumptions that could cause actual results to differ materially from those projected include, without limitation, the volatility in commodity prices for crude oil and natural gas, the presence or recoverability of estimated reserves, the ability to replace reserves, environmental risks, drilling and operating risks, exploration and development risks, competition, government regulation or other action, the ability of management to execute its plans to meet its goals and other risks inherent in Noble Energy's business that are detailed in its Securities and Exchange Commission filings. Words such as "anticipates," "believes," "expects," "intends," "will," "should," "may," and similar expressions may be used to identify forward-looking statements. Noble Energy assumes no obligation and expressly disclaims any duty to update the information contained herein except as required by law. The Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. Beginning with year-end reserves for 2009, the SEC permits the optional disclosure of probable and possible reserves. We have elected not to disclose the Company's probable and possible reserves in our filings with the SEC. We use certain terms in this news release, such as "gross resources," and "resource estimates" that the SEC's guidelines strictly prohibit us from including in filings with the SEC. Investors are urged to consider closely the disclosures and risk factors in our Forms 10-K and 10-Q, File No. 1-07964, available from Noble Energy's offices or website, http://www.nobleenergyinc.com. These forms can also be obtained from the SEC by calling 1-800-SEC-0330. For additional information ? website www.nobleenergyinc.com SOURCE Noble Energy, Inc.For further information: David Larson, +1-281-872-3125, firstname.lastname@example.org, or Brad Whitmarsh, +1-281-872-3187, email@example.com, both of Noble Energy, Inc.