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| Encore Acquisition Company |
| 777 Main Street, Suite 1400, Fort Worth, TX 76102 * (817) 877-9955 |
| Business Description | The company is a rapidly growing independent energy company engaged in the acquisition, development and exploitation of North American oil and natural gas reserves. Our oil and natural gas reserves are concentrated in fields located in the Williston Basin of Montana and North Dakota, the Permian Basin of Texas and New Mexico and the Anadarko Basin of Oklahoma. |
| Offering Information Company has | |||
| Trading As | EAC (NYSE) | Industry | Natural Resource (SIC 1311) |
| Type of Stock Offered | Common Shares | Filing Date | 10/6/2000 |
| Domestic Shares Offered | 7,150,000 | Offer Date | 3/8/2001 |
| Foreign Shares Offered | 0 | Filing Range | $13.00 - $15.00 |
| Company Shares | 7,150,000 | Offer Price | $14.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $0.980 |
| Gross Proceeds | $100,100,000 | Selling | $0.600 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | - - | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Goldman, Sachs & Co. | Lead Manager | (212) 902-5959 |
| CS First Boston | Co-manager | (212) 325-2000 |
| Dain Rauscher Wessels | Co-manager | (612) 371-2818 |
| Petrie Parkman & Co. | Co-manager | (303) 292-3877 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | 6 Months Ending | ||||||
| Figures in U.S. millions except per share data | 12/31/1998 | 12/31/1999 | 6/30/1999 | 6/30/2000 | |||
| Revenues | - | - | - | 0.000 | 35.648 | 4.022 | 50.482 |
| Income from Oper. | - | - | - | -1.084 | 8.099 | -0.191 | 18.731 |
| Net Income | - | - | - | -1.010 | 3.005 | -0.828 | 8.739 |
| E.P.S | - | - | - | -5.180 | 8.200 | -2.260 | 23.810 |
| Revenue Growth (%) | - | - | - | - | 1,155.15 | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | 22.72 | 37.10 | - |
| Net Profit Margin (%) | - | - | - | - | 8.43 | 17.31 | - |
| Cash Flow - Oper. | 9.76 | -3.21 | 17.11 | ||||
| Cash Flow - Inv. | -201.70 | -188.37 | -51.75 | ||||
| Cash Flow - Fin. | 194.97 | 190.72 | 33.17 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 6/30/2000 | Financial Ratios | ||||
| Total Assets | 302.76 | Current Assets | - | Current Ratio | - |
| Total Liab. | 170.19 | Current Liab. | - | Debt Ratio | 56.21% |
| Total Equity | 132.57 | Working Cap. | - | Debt to Equity Ratio | 1.28 |
| Cash | 23.31 | Return on Assets | 2.89% | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used to repay a portion of debt owed under a credit agreement, to pursue development, exploitation and acquisition activities and for general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Kelly, Hart & Hallman, P.C. |
| Bank's Law Firm | Baker & Botts |
| Registrar/Transfer Agent | Mellon Investor Services, L.L.C. |
| Auditor | Arthur Andersen |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| Warburg, Pincus Equity Partners L.P. | ||
| Natural Gas Partners V, L.P. | ||
| First Union Capital Partners, Inc. | ||
| Chase Venture Capital Associates, L.P. | ||
| Note: represents ownership of 5% or more prior to the offering. | ||