Press Releases

MEMPHIS, Tenn.--(BUSINESS WIRE)-- Buckeye Technologies Inc. (NYSE: BKI) today announced that it is calling for redemption prior to their maturity $35 million in aggregate principal amount of its outstanding 8.5% Senior Notes due 2013 (the "2013 Notes") at a redemption price of 102.833% of their principal amount in accordance with their terms. Buckeye will redeem these notes on January 4, 2010. Upon completion of this redemption, $165 million of the 2013 Notes will remain outstanding. A formal notice of redemption is being sent separately to the affected holders of the 2013 Notes, in accordance with the terms of the indenture for these Notes. Buckeye plans to finance this redemption using drawings from its revolving credit facility and cash on hand. As of November 30, 2009, Buckeye had approximately $99 million of availability on its revolving credit facility and a cash balance of approximately $28 million. This redemption is expected to result in a one-time charge for early extinguishment of debt in Buckeye's fiscal third quarter of $1.6 million (of which $0.6 million is a non-cash charge), or about 3 cents per share. We expect to realize annualized interest savings of approximately $2.4 million assuming variable interest rates remain close to current levels.

Buckeye, a leading manufacturer and marketer of specialty fibers and nonwoven materials, is headquartered in Memphis, Tennessee, USA. The Company currently operates facilities in the United States, Germany, Canada, and Brazil. Its products are sold worldwide to makers of consumer and industrial goods.

Certain matters discussed in this press release may constitute forward-looking statements within the meaning of the federal securities laws that involve risks and uncertainties, including but not limited to economic, competitive, governmental, and technological factors affecting the Company's operations, financing, markets, products, services and prices, and other factors. For further information on factors which could impact the Company and the statements contained herein, please refer to public filings with the Securities and Exchange Commission.

    Source: Buckeye Technologies Inc.

Kepha Partners Joins Existing Investors in Supporting Proprietary Targeting Solutions and State of the Art Media Buying Platform

BOSTON--(BUSINESS WIRE)-- OwnerIQ, the first and only online media company to deliver customized ownership targeted media programs, today announced that it has raised $5.8 million in growth financing. Led by Kepha Partners, the round includes participation by all of OwnerIQ's current investors: Atlas Venture; Egan-Managed Capital; CommonAngels and Mass Technology Development Corporation. Funding will be used to fuel the continued growth of the company's New York based advertising sales operation, expanding the scope and depth of OwnerIQ's proprietary data solutions, and the continued enhancements to OwnerIQ's advanced media-buying platform.

OwnerIQ has taken the knowledge of what people own and turned it into one of the most compelling and actionable behavioral targeting solutions available to advertisers today. OwnerIQ combines its unique and proprietary database of ownership information with its MOST(TM) real-time, cross exchange media buying platform to uniquely enable advertisers to target specific anonymous users with their messaging, on an impression-by-impression basis, across 90% of the web and with proven and dramatically better results than alternative solutions.

"Online advertising is experiencing a shift toward premium solutions based on proprietary targeting data and on-demand media acquisition," said Eric Hjerpe, General Partner at Kepha Partners. "OwnerIQ has consistently delivered premium solutions for top brand advertisers using their unique ownership related behavioral targeting data and techniques, and has layered on top of that one of the most advanced, real-time, cross exchange media buying platforms in the industry. We are very excited at Kepha to have the opportunity to lead this investment."

"We are thrilled to have Kepha as an investor as we are with the ongoing commitment of our existing investors," said Jay Habegger, Founder and CEO of OwnerIQ. "The very high level of interest we received in this financing from the investment community is a testament not only to our significant revenue growth and stable of top brand advertisers, but the unique nature of our offerings and how well we are positioned to capitalize on the growing demand by advertisers to reach the right consumers at the right time."

About OwnerIQ

OwnerIQ (www.OwnerIQ.com), an online behavioral targeting media company, pioneered the concept of Ownership Targeting: enabling advertisers to precisely target consumers across the entire ownership spectrum, from "intenders" looking to buy for the first time to long-term owners who have owned a product for years. Nothing predicts behavior as well as what a consumer actually owns. Using its MOST(TM) real-time cross-exchange media buying platform, OwnerIQ provides highly customized programs to target specific advertiser defined audiences across the web, consistently yielding industry leading results for its customers.

OwnerIQ was founded in 2006 by a group of seasoned online internet advertising entrepreneurs and is backed by a consortium of leading venture capitalists. For more information, please visit: www.owneriq.com.

    Source: OwnerIQ

CALGARY, ALBERTA--(Marketwire - Dec. 2, 2009) - FairWest Energy Corporation (TSX: FEC) ("FairWest" or the "Company") announces that it intends to offer up to $4,000,000 of Series 2, 14% Secured Subordinated Redeemable Convertible Debentures (the "Series 2 Debentures") maturing on October 31, 2011. The Series 2 Debentures have a 14% annualized yield payable monthly. The Series 2 Debentures are redeemable and convertible into Common Shares of the Company at $0.15 per share any time before the maturity date.

The Company also advises that debentureholders holding $1,750,000 of the Company's Series 1, 14% Secured Subordinated Redeemable Convertible Debentures (the "Series 1 Debentures") have agreed to extend the maturity date of the debentures from October 31, 2009 to October 31, 2011. These debentureholders have also agreed to reduce the conversion rate from $0.45 per share to $0.15 per share. One debentureholder holding $250,000 of the Series 1 Debentures has not agreed to an extension beyond the maturity date.

The Series 1 Debentures and the Series 2 Debentures are redeemable and rank pari passu with each other. The proposed conversion rate of $0.15 per share is subject to regulatory and exchange approval.

As previously announced, the Company has been operating under a forbearance agreement with its principal lender. The forbearance agreement required the Company to reduce its credit facility with the lender from $12.5 million at December 31, 2008 to $6.9 million by October 31, 2009. As previously reported, the Company has successfully reduced the facility to $7.4 million and plans to further reduce the facility to $6.9 million on or before December 15, 2009. As a result of the necessity to meet the sharp reduction in lending value, the Company has been required to cut capital costs and dispose of producing properties. The Company has now divested properties with approximately 110 boepd of associated production and has plans to sell several non-core properties before year end.

As a result of the sale of producing properties and limited access to capital, the Company's production averaged 475 boepd for the month of October. In mid-November, 2009 the Company commenced an optimization program by performing workovers and recompletions, which increased production by approximately 125 boepd to the current level of approximately 600 boepd. The Company will continue its optimization program, subject to the availability of capital and anticipates the addition of up to 150 boepd of production by the end of January, 2010.

In addition, the Company completed the drilling of an 1,100 meter multi zone liquid rich gas test on its lands at Kirkpatrick Lake. The well, which qualifies for the Alberta Royalty Drilling Tax Credit, is scheduled for completion by mid December. The Company paid 45% of D&A costs to earn an 80% working interest in production from the well.

About FairWest Energy

FairWest (TSX: FEC) is a Calgary, Alberta based junior oil and gas company engaged in the acquisition, exploration, development and production of crude oil and natural gas in the provinces of Alberta and Saskatchewan.

READER ADVISORY

This news release may contain certain forward-looking statements, including management's assessment of future plans and operations, and capital expenditures and the timing thereof, that involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control. Such risks and uncertainties include, without limitation, risks associated with oil and gas exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other producers, inability to retain drilling rigs and other services, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources, the impact of general economic conditions in Canada, the United States and overseas, industry conditions, changes in laws and regulations (including the adoption of new environmental laws and regulations) and changes in how they are interpreted and enforced, increased competition, the lack of availability of qualified personnel or management, fluctuations in foreign exchange or interest rates, stock market volatility and market valuations of companies with respect to announced transactions and the final valuations thereof, and obtaining required approvals of regulatory authorities. The Company's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits, including the amount of proceeds, that the Company will derive there from. Readers are cautioned that the foregoing list of factors is not exhaustive. All subsequent forward-looking statements, whether written or oral, attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

The terms bbls, bbls/d, boe, boes or boes/d may be misleading, particularly if used in isolation. A boe (barrel of oil equivalent) conversion ratio of 6 mcf per one (1) boe is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

129,839,879 Common Shares Issued

FOR FURTHER INFORMATION PLEASE CONTACT:
        FairWest Energy Corporation
        James G. Gettis
        President and Chief Executive Officer
        (403) 264-4949
        Fax: (403) 269-1761 (FAX)
        jgettis@fairwestenergy.com

        FairWest Energy Corporation
        Marion D. Mackie
        Chief Financial Officer
        (403) 264-4949
        Fax: (403) 269-1761 (FAX)

Source: FairWest Energy Corporation

CHICAGO, Dec. 2 /PRNewswire-FirstCall/ -- First Industrial Realty Trust, Inc. (NYSE: FR), a leading provider of industrial real estate supply chain solutions, announced today that H. Patrick Hackett, Jr. has joined its board of directors. Mr. Hackett is principal of HHS Co., a privately-held real estate and investment company located in the Chicago area.

(Logo: http://www.newscom.com/cgi-bin/prnh/20040106/FRLOGO)

Previously, Mr. Hackett retired as chief executive officer and president of RREEF Capital, Inc. and principal of The RREEF Funds, a commercial real estate investment management firm. There, he supervised the capital markets, opportunistic and value-added areas of the firm while serving on its policy, compensation and investment committees for both its public securities and private investment businesses.

Bruce W. Duncan, president and CEO of First Industrial, said, "We are pleased that Pat has joined our board of directors. His wealth of real estate and finance experience will be invaluable in shaping the future of the Company."

During his career, Mr. Hackett also served in various management positions at JMB Realty Corporation, The First National Bank of Chicago and Peat Marwick Mitchell & Co., predecessor of KPMG. He also taught real estate finance at the Kellogg Graduate School of Management at Northwestern University, during which time he served on the real estate advisory boards of Kellogg and the Massachusetts Institute of Technology (MIT).

Mr. Hackett currently serves on the business boards of Evanston Capital Management, Wintrust Financial Corporation, North Shore Community Bank, and Textura Corporation. He received his Bachelor of Arts and Masters of Management degrees from Northwestern University.

First Industrial Realty Trust, Inc. (NYSE: FR) provides industrial real estate solutions for every stage of a customer's supply chain, no matter how large or complex. Across major markets in North America, our local market experts manage, lease, buy, (re)develop, and sell industrial properties, including all of the major facility types - bulk and regional distribution centers, light industrial, manufacturing, and R&D/flex. We have a track record of industry leading customer service, and in total, we own, manage and have under development 94 million square feet of industrial space. For more information, please visit us at www.firstindustrial.com. We post or otherwise make available on this website from time to time information that may be of interest to investors.

Forward-Looking Information

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and are including this statement for purposes of complying with those safe harbor provisions. Forward-looking statements, which are based on certain assumptions and describe future plans, strategies and expectations of the Company, are generally identifiable by use of the words "believe," "expect," "intend," "anticipate," "estimate," "project," "seek," "target," "potential," "focus," "may," "should" or similar expressions. Our ability to predict results or the actual effect of future plans or strategies is inherently uncertain. Factors which could have a materially adverse affect on our operations and future prospects include, but are not limited to: changes in national, international, regional and local economic conditions generally and real estate markets specifically; changes in legislation/regulation (including changes to laws governing the taxation of real estate investment trusts) and actions of regulatory authorities (including the Internal Revenue Service); our ability to qualify and maintain our status as a real estate investment trust; the availability and attractiveness of financing (including both public and private capital) to us and to our potential counterparties; the availability and attractiveness of terms of additional debt repurchases; interest rates; our credit agency ratings; our ability to comply with applicable financial covenants; competition; changes in supply and demand for industrial properties (including land, the supply and demand for which is inherently more volatile than other types of industrial property) in the Company's current and proposed market areas; difficulties in consummating acquisitions and dispositions; risks related to our investments in properties through joint ventures; environmental liabilities; slippages in development or lease-up schedules; tenant creditworthiness; higher-than-expected costs; changes in asset valuations and related impairment charges; changes in general accounting principles, policies and guidelines applicable to real estate investment trusts; international business risks and those additional factors described under the heading "Risk Factors" and elsewhere in the Company's annual report on Form 10-K for the year ended December 31, 2008 and in the Company's subsequent quarterly reports on Form 10-Q. We caution you not to place undue reliance on forward-looking statements, which reflect our outlook only and speak only as of the date of this press release or the dates indicated in the statements. We assume no obligation to update or supplement forward-looking statements. For further information on these and other factors that could impact the Company and the statements contained herein, reference should be made to the Company's filings with the Securities and Exchange Commission.

SOURCE First Industrial Realty Trust, Inc.

ZUG, Switzerland, Dec. 2 /PRNewswire-FirstCall/ -- Noble Corporation (NYSE: NE) today announced that Lee M. Ahlstrom, Vice President, Investor Relations and Planning, Noble Drilling Services Inc., will present at the Capital One Southcoast Energy Conference 2009, which is being held December 8-10, 2009, in New Orleans, LA. Noble's presentation is scheduled for 2:20 p.m. Central Time on Wednesday, December 9, 2009 and will be made available live and for replay on the Company's Web site. The Company's presentation slides for the event and the related webcast will be available on the day of the event in the Investor Relations section of http://www.noblecorp.com, by clicking on the "Webcast" tab and following the instructions provided.

About Noble Corporation

Noble is a leading offshore drilling contractor for the oil and gas industry. Noble performs, through its subsidiaries, contract drilling services with a fleet of 62 offshore drilling units (including three rigs currently under construction) located worldwide, including in the Middle East, India, the U.S. Gulf of Mexico, Mexico, the Mediterranean, the North Sea, Brazil, and West Africa. Noble's shares are traded on the New York Stock Exchange under the symbol "NE". Additional information on Noble Corporation is available via the worldwide web at http://www.noblecorp.com.

SOURCE Noble Corporation