SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) - January 24, 1996
FOREST OIL CORPORATION
(Exact name of registrant as specified in its charter)
New York 0-4597 25-0484900
(State or other juris- (Commission (IRS Employer
diction of incorporation) file number) Identification No.)
2200 Colorado State Bank Building, 1600 Broadway, Denver, CO 80202
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (303) 812-1400
Item 5. Other Events
For information concerning this item, please refer to
Exhibit 99.1 hereto, which is incorporated herein by reference.
Item 7. Financial Statements and Exhibits
(c) Exhibits
(99.1) Forest Oil Corporation press release
announcing the acquisition of 13.6% of the Common Stock
of Forest by JEDI (a Delaware limited partnership, whose
general partner is an affiliate of Enron Corp.)
Pursuant to the requirements of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be
signed on its behalf by the undersigned hereunto duly authorized.
FOREST OIL CORPORATION
(Registrant)
Dated: January 25, 1996 By: /s/ Daniel L. McNamara
Daniel L. McNamara
Secretary
FOR IMMEDIATE RELEASE
ENRON / JEDI ACQUIRES 13.6% OF THE COMMON STOCK
OF FOREST OIL CORPORATION
DENVER, COLORADO - January 25, 1996 - Forest Oil Corporation
(Forest) reported today that it has completed the previously
announced transaction with JEDI (a Delaware limited partnership,
whose general partner is an affiliate of Enron Corp.) whereby
JEDI will receive 1.68 million shares of the common stock of
Forest in exchange for approximately $22.4 million principal
amount of debt and warrants to purchase 2.25 million shares of
Forest's common stock which had been held by JEDI and were not
exercisable by JEDI until July 27, 1998. (All share and warrant
amounts quoted herein have been adjusted to reflect Forest's 1
for 5 reverse stock split which became effective January 8,
1996.) As part of the agreement, JEDI is prohibited from
disposing of any of the common stock it receives until July 27,
1998, except under certain limited circumstances. As a result of
this transaction, Forest's non-cash interest expense will be
reduced by approximately $1.5 million per year.
Forest Oil Corporation is engaged in the acquisition,
exploration, development and production of natural gas and crude
oil. Forest's principal reserves and producing properties are
located in the Gulf of Mexico, Texas and Oklahoma and in Canada.
Forest's common and preferred stocks are traded on the Nasdaq
National Market system under the FOIL and FOILO symbols,
respectively.
January 25, 1996
###
