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PRESSRELEASE
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www.HelixESG.com |
Helix Energy Solutions Group, Inc. 400 N. Sam Houston Parkway E., Suite 400 Houston, TX 77060-3500 281-618-0400 fax: 281-618-0505
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For Immediate Release
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06-013 |
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Contact:
Wade
Pursell |
Date: April 13, 2006
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Title: Chief Financial Officer |
Helix to Review First Quarter Results with Investors
HOUSTON,
TX Helix Energy Solutions Group, Inc. (Nasdaq: HELX) will conduct a conference call
regarding its financial and operational results for the first quarter of 2006 on Wednesday, May 3,
2006, at 9:00 a.m. Central Standard Time. A press release summarizing these results is planned for
distribution on Tuesday, May 2, 2006, after the market closes.
Investors will be able to obtain the slide presentation and listen to the live conference call
broadcast from the Investor Relations page at www.HelixESG.com. A replay will be available by
selecting the Audio Archives link from the same page.
Helix Energy Solutions, headquartered in Houston, Texas, is an energy services company that
provides innovative solutions to the oil and gas industry worldwide for marginal field development,
alternative development plans, field life extension and abandonment, with service lines including
diving services, shelf and deepwater construction, robotics, well operations, well engineering and
subsurface consulting services, platform ownership and oil and gas production.
FORWARD-LOOKING STATEMENTS
This press release and attached presentation contain forward-looking statements that involve risks,
uncertainties and assumptions that could cause our results to differ materially from those
expressed or implied by such forward-looking statements. All statements, other than statements of
historical fact, are statements that could be deemed forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation,
any projections of revenue, gross margin, expenses, earnings or losses from operations, or other
financial items; future production volumes, results of exploration, exploitation, development,
acquisition and operations expenditures, and prospective reserve levels of property or wells; any
statements of the plans, strategies and objectives of management for future operations; any
statement concerning developments, performance or industry rankings relating to services; any
statements regarding future economic conditions or performance; any statements of expectation or
belief; any statements regarding the proposed merger of Remington Oil and Gas Corporation into a
wholly owned subsidiary of Helix or the anticipated results (financial or otherwise) thereof; and
any statements of assumptions underlying any of the foregoing. The risks, uncertainties and
assumptions referred to above include the performance of contracts by suppliers, customers and
partners; employee management issues; complexities of global political and economic developments,
geologic risks and other risks described from time to time in our reports filed with the Securities
and Exchange Commission, including the Companys Annual Report on Form 10-K for the year ending
December 31, 2005; and, with respect to the proposed Remington merger, actual results could differ
materially from Helixs expectations depending on factors such as the combined companys cost of
capital, the ability of the combined company to identify and implement cost savings, synergies and
efficiencies in the time frame needed to achieve these expectations, prior contractual commitments
of the combined companies and their ability to terminate these commitments or amend, renegotiate or
settle the same, the combined companys actual capital needs, the absence of any material incident
of property damage or other hazard that could affect the need to effect capital expenditures, any
unforeseen merger or acquisition opportunities that could affect capital needs, the costs incurred
in implementing synergies and the factors that generally affect both Helixs and Remingtons
respective businesses as further outlined in Managements Discussion and Analysis of Financial
Condition and Results of Operations in each of the companies respective Annual Reports on Form
10-K for the year ended December 31, 2005. Actual actions that the combined company may take may
differ from time to time as the combined company may deem necessary or advisable in the best
interest of the
combined company and its shareholders to attempt to achieve the successful
integration of the companies, the synergies needed to make the transaction a financial success and
to react to the economy and the combined companys market for its exploration and production. We
assume no obligation and do not intend to update these forward-looking statements.
ADDITIONAL INFORMATION
Helix and Remington have filed a proxy statement/prospectus and other relevant documents concerning
the proposed merger transaction with the Securities and Exchange Commission (SEC). Investors are
urged to read the proxy statement/prospectus and any other relevant documents filed with the SEC
because they contain important information. You can obtain the documents free of charge at the
website maintained by the SEC at www.sec.gov. In addition, you may obtain documents filed with the
SEC by Helix free of charge by requesting them in writing from Helix or by telephone at (281)
618-0400. You may obtain documents filed with the SEC by Remington free of charge by requesting
them in writing from Remington or by telephone at (214) 210-2650. Helix and Remington, and their
respective directors and executive officers, may be deemed to be participants in the solicitation
of proxies from the stockholders of Remington in connection with the merger. Information about the
directors and executive officers of Helix and their ownership of Helix stock is set forth in the
proxy statement for Helixs 2005 Annual Meeting of Shareholders. Information about the directors
and executive officers of Remington and their ownership of Remington stock is set forth in the
Annual Report on Form 10-K for the year ended December 31, 2005, as amended by Form 10-K/A.
Investors may obtain additional information regarding the interests of such participants by reading
the proxy statement/prospectus.