OLD GREENWICH, Conn., Jan. 10 /PRNewswire-FirstCall/ -- Premcor Inc.
(NYSE: PCO) announced today it will report its operating results for the
fourth quarter and year ended December 31, 2002 on January 21, 2003. The
company recently announced that it has filed a registration statement pursuant
to the Securities Act of 1933 relating to its proposed sale of up to
$287.5 million of its common stock. Accordingly, the company will not hold
its customary quarterly conference call.
A registration statement relating to the shares referred to above has been
filed with the Securities and Exchange Commission, but has not yet become
effective. These shares may not be sold nor may offers to buy be accepted
prior to the time the registration statement becomes effective. This press
release shall not constitute an offer to sell or the solicitation of an offer
to buy nor shall there be any sale of these shares in any state in which such
offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any state.
Morgan Stanley & Co. Incorporated will be the sole book-running managing
underwriter for the offering. When available, a copy of the preliminary
prospectus for the offering may be obtained from the offices of Morgan
Stanley, 1585 Broadway, New York, NY 10036.
Premcor Inc. is one of the largest independent petroleum refiners and
marketers of unbranded transportation fuels and heating oil in the United
States.
This press release contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995, including the
company's current expectations with respect to future market conditions,
future operating results, the future performance of its refinery operations,
and future acquisitions and related financing transactions. Words such as
"expects," "intends," "plans," "projects," "believes," "estimates," "may,"
"will," "should," "shall," and similar expressions typically identify such
forward-looking statements. Even though Premcor believes the expectations
reflected in such forward-looking statements are based on reasonable
assumptions, it can give no assurance that its expectations will be attained.
Factors that could cause actual results to differ materially from expectations
include, but are not limited to, operational difficulties, varying market
conditions, potential changes in gasoline, crude oil, distillate, and other
commodity prices, government regulations, and other factors contained from
time to time in the reports filed with the Securities and Exchange Commission
by the company and its subsidiaries, Premcor USA Inc. and The Premcor Refining
Group Inc., including the company's Form S-1 and the company's and its
subsidiaries' quarterly reports on Form 10-Q, reports on Form 8-K, and annual
reports on Form 10-K.
SOURCE Premcor Inc.
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Related links:
http://www.premcorinc.com
CONTACT:
Media-Investors, Joe Watson, +1-203-698-7510,
or Investors, Karen Davis, +1-314-854-1424, or Michael Taylor,
+1-314-719-2304, all of Premcor Inc.
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