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Exhibit 99.1
THE WISER OIL COMPANY
8115 Preston Road, Suite 400, Dallas, Texas 75225
Phone: 214/265-0080 Fax: 214/891-9645
Page 1 of 1.
NEWS RELEASE
For Immediate Release: November 20, 2000 For Further Information:
Rick Davis
Telephone: 214/265-0080
E-mail: [email protected]
THE WISER OIL COMPANY ANNOUNCES PAYMENT OF PREFERRED
DIVIDENDS AND EXTENSION OF TIME
Dallas, Texas, November 20, 2000 -- The Wiser Oil Company (NYSE: WZR) announced
that its Board of Directors approved the payment of dividends on the Series C
Preferred Stock for the second quarter and third quarter of 2000 totaling
$368,219. The annual dividend rate on the Series C Convertible Preferred Stock
is 7% and is payable in either cash or shares of Wiser's common stock. The
Company has elected to pay the full dividend amount by issuing 80,944 shares of
Wiser's common stock.
The Board of Directors also approved an extension of time, from November 25,
2000 to May 25, 2001, for Wiser Investment Company to purchase an additional $10
Million of Series C Convertible Preferred Stock.
Organized in 1905, Wiser is an independent energy company engaged in
exploration, production and acquisition of crude oil and natural gas reserves
primarily in the United States and Canada.
Some matters set forth herein are forward-looking statements that involve
certain risks and uncertainties that could cause actual results to differ
materially from those in the forward-looking statements. Potential risks and
uncertainties include such factors as oil and gas prices, well completions and
production levels within estimated ranges. Investors are directed to consider
other risks and uncertainties discussed in documents filed by the Company with
the Securities and Exchange Commission.
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