December 10, 2008: 05:44 PM ET
Brigham Exploration Company ("Brigham" or the "Company") (NASDAQ: BEXP) today announced that its Board of Directors approved the adoption of a Stockholder Rights Plan (the "Plan") under which all stockholders of record as of the close of business on December 22, 2008 will receive rights to purchase shares of a new series of preferred stock (the "Rights").
The Plan is designed to enable stockholders of Brigham to realize maximum value for their shares of the Company by giving the Board the time to properly evaluate various alternatives and preserve the Board's bargaining power and flexibility to deal with third party inquiries.
"The adoption of this Plan is in response to the significant differential between a reasonable valuation of our high quality assets and the current trading levels of our stock," said Bud Brigham, CEO, President and Chairman. "The adoption of this Plan is not in response to a specific takeover threat. In light of the unprecedented turmoil in our nation's financial markets affecting our sector in particular, the Board of Directors determined that the Plan is necessary to protect shareholder value."
The Rights will trade with Brigham's common stock and no separate Rights certificates will be issued, unless and until they become exercisable. The Rights will be exercisable only if a person or group (unless otherwise excluded) acquires beneficial ownership of 15 percent or more of Brigham's common stock, including through derivatives, or announces a tender or exchange offer for 15 percent or more of Brigham's common stock. Prior to such time as the Rights are exercisable, the Rights can be redeemed by the Company, at its option, in response to a proposed acquisition which it deems to be in the best interests of its stockholders. The Rights will expire and will no longer be exercisable on and after December 10, 2009.
http://money.cnn.com/news/newsfeeds/articles/marketwire/0459507.htm
NEW YORK, November 17 - Analysts at Sanders Morris Harris initiate coverage of Brigham Exploration Company with a "buy" rating. The target price is set to $10.
http://en.redtram.com/catalogue/world/finance-and-investments/20081117/
December 3, 2008 11:03 AM ET
Brigham Exploration announces new completions including its Main Pass discovery at an initial rate of approximately 15.2 MMcfe per day Co announces new completions including its Main Pass discovery at an initial rate of ~15.2 MMcfe per day. As a result, Brigham's current net daily production has reached a peak of just over 40 MMcfe per day, ~45% above Brigham's average daily production for the third quarter of 2008. As for Southern Louisiana Main Pass Completion, co has successfully completed its Main Pass SL 18826 #1 well at a rate of ~15.2 MMcfe per day. Brigham owns a 50% working and 39% revenue interest in the well, with Clayton Williams Energy (CWEI) retaining a 50% working interest.
http://news.moneycentral.msn.com/ticker/article.aspx?Feed=Bcom&Date=20081203&ID=9423865&Symbol=BEXP
