HOUSTON, Jan. 6 /PRNewswire-FirstCall/ -- Frontier Oil Corporation
(NYSE: FTO) announced that the trial of its lawsuit against Holly Corporation,
scheduled to begin in Delaware Chancery Court on January 12, 2004, has been
delayed. A new trial date is expected to be announced next week, but it
appears likely that the trial will not begin before the end of February.
(Logo: http://www.newscom.com/cgi-bin/prnh/20010411/FTOLOGO )
The trial delay was caused by Holly's late production, on the afternoon of
Friday, January 2, 2004, of approximately 500 pages of handwritten notes and
other documents, most of which were reported to have come from the files of
its general counsel. Frontier is evaluating the impact of this extraordinary
development and is considering its remedies. In addition to agreeing to delay
the trial, Holly has agreed in a hearing before the Vice Chancellor of the
Delaware Court to pay Frontier's costs and fees reasonably necessitated by
this late document production.
Frontier operates a 110,000 barrel-per-day refinery located in El Dorado,
Kansas, and a 46,000 barrel-per-day refinery located in Cheyenne, Wyoming, and
markets its refined products principally along the eastern slope of the Rocky
Mountains and in other neighboring plains states. Information about the
Company may be found on its web site http://www.frontieroil.com .
This press release includes "forward-looking statements" as defined by the
Securities and Exchange Commission. Such statements include those concerning
contemplated transactions, strategic plans, expectations and objectives for
future operations. All statements, other than statements of historical facts,
included in this press release that address activities, events or developments
that the Company expects, believes or anticipates will or may occur in the
future are forward-looking statements. These statements are based on certain
assumptions made by the Company based on its experience and perception of
historical trends, current conditions, expected future developments and other
factors it believes are appropriate in the circumstances. Such statements are
subject to a number of assumptions, risks and uncertainties, many of which are
beyond the control of the Company. Investors are cautioned that any such
statements are not guarantees of future performance and that actual results or
developments may differ materially from those projected in the forward-looking
statements.
SOURCE Frontier Oil Corporation
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