Crescent Resources Announces Receipt Of Requisite Consent For Consent Solicitation For Senior Secured Notes Due 2017

    Crescent Resources Announces Receipt Of Requisite Consent For Consent
                Solicitation For Senior Secured Notes Due 2017

PR Newswire

CHARLOTTE, N.C., Feb. 5, 2013

CHARLOTTE, N.C., Feb. 5, 2013 /PRNewswire/ -- Crescent Resources, LLC (the
"Company") announced today that the Company and Crescent Ventures, Inc., a
wholly owned subsidiary of the Company (together, the "Issuers"), have
received, pursuant to their previously announced solicitation of consents (the
"Consent Solicitation") to amend (the "Proposed Amendments") the indenture
(the "Indenture") governing the Issuers' 10.250% Senior Secured Notes due 2017
(the "Notes"), the requisite consents to adopt the Proposed Amendments.

The Company announced that consents had been delivered with respect to
$272,158,000 of the Notes (representing approximately 78% of the outstanding
aggregate principal amount of Notes as of February 4, 2013). In conjunction
with receiving the requisite consents, the Issuers and The Bank of New York
Mellon Trust Company, N.A., as trustee, executed a first supplemental
indenture to the Indenture adopting the Proposed Amendments.

The Consent Solicitation is scheduled to expire at 5:00 p.m., New York City
time, on February 5, 2013, unless extended or earlier terminated. The Consent
Solicitation is being made in accordance with the terms and subject to the
conditions stated in a Consent Solicitation Statement dated January 29, 2013,
as amended by a Supplement No. 1 to Consent Solicitation Statement dated
January 31, 2013 (the "Consent Solicitation Statement"), to holders of record
at 5:00 p.m., New York City time, on January 28, 2013.

The Issuers have retained Credit Suisse Securities (USA) LLC to act as
Solicitation Agent in connection with the Consent Solicitation. Questions
about the Consent Solicitation may be directed to Credit Suisse at (800)
820-1653 (toll free) or (212) 325-2476 (collect). Requests for copies of the
Consent Solicitation Statement and related documents, and assistance relating
to the procedures for delivering consents, may be obtained by contacting
Global Bondholder Services Corporation, the Information and Tabulation Agent,
at (866) 857-2200 (toll free).

This press release is not a solicitation of consents, and no recommendation is
made, or has been authorized to be made, as to whether or not holders of Notes
should consent to the adoption of the Proposed Amendments pursuant to the
Consent Solicitation. Each holder of Notes must make its own decision as to
whether to give its consent to the Proposed Amendments. The Consent
Solicitation is made only by the Consent Solicitation Statement. The Consent
Solicitation is not being made to holders of Notes in any jurisdiction in
which the making thereof would not be in compliance with the securities, blue
sky or other laws of such jurisdiction.

Forward Looking Statements
This press release contains "forward-looking statements" within the meaning of
the securities laws. Forward-looking statements are not guarantees. The
Company believes that its expectations reflected in the forward-looking
statements are based on its reasonable beliefs, assumptions and expectations,
and have taken into account all information currently available to the
Company. Such beliefs, assumptions and expectations are subject to risks and
uncertainties and can change as a result of future economic, competitive and
market conditions, all of which are difficult or impossible to predict
accurately and many of which are beyond the Company's control. The Company
can give no assurance that any of the events anticipated by its
forward-looking statements will occur or, if any of them do, what impact they
will have on the Company's results of operations and financial condition. The
Company undertakes no obligation to update or revise its forward-looking
statements to reflect events or circumstances that arise after the date of
this press release.



SOURCE Crescent Resources, LLC

Contact: Heather Tamol, +1-704-926-1326
 
Press spacebar to pause and continue. Press esc to stop.