Patina Warrants to Expire

Apr 04, 2001, 01:00 ET from Patina Oil & Gas Corporation

    DENVER, April 4 /PRNewswire/ -- PATINA OIL & GAS CORPORATION (NYSE:   POG)
 released a reminder today that its $12.50 warrants (NYSE:   POGWS), issued in
 May 1996 in connection with the Gerrity acquisition, will expire in
 approximately four weeks.  Under the terms of the Warrant Agreement, the
 warrants may be exercised at any time up to 5:00 p.m. Eastern Daylight Time on
 May 2, 2001 (the "Deadline").  Each warrant entitles the holder to purchase a
 fully paid and nonassessable share of common stock for $12.50 a share.  Once
 the Deadline has passed, the warrants expire and may no longer be exercised.
 Given the substantial current premium of the stock price over the exercise
 price, the Company wishes to insure that warrant holders are aware of the
 expiration.
     In aggregate, the Company will realize $35.3 million in proceeds and it
 will have approximately 21.6 million shares of common stock outstanding, if
 all the warrants are exercised.
     To exercise warrants, holders must deliver to Mellon Investor Services:
 (i) the warrant certificate with the election to purchase on the reverse of
 the certificate duly completed and signed; and (ii) full payment of the
 exercise price.  Payment must be made by certified or bank check payable to
 Patina Oil & Gas Corporation or Mellon Investor Services.  Delivery should be
 made to:
 
                         Mellon Investor Services
                         Attn:  Mike Cucchia / Reorg. Dept.
                         85 Challenger Road
                         Ridgefield Park, NJ 07660
                         Phone: (201) 296-4092
                         Fax:   (201) 329-8936
 
     Any questions as to the exercise procedure should be addressed to
 Mr. Cucchia.
     Holders are advised that warrant certificates must be received at Mellon
 Investor Services' office completed and with appropriate payment on or before
 5:00 p.m. on May 2, 2001.  Requests for exercise received after that time will
 be declined.
 
     Patina is an independent oil company engaged in acquisitions, development,
 exploitation and production of oil and natural gas primarily in Colorado's
 Wattenberg Field.
 
 

SOURCE Patina Oil & Gas Corporation
    DENVER, April 4 /PRNewswire/ -- PATINA OIL & GAS CORPORATION (NYSE:   POG)
 released a reminder today that its $12.50 warrants (NYSE:   POGWS), issued in
 May 1996 in connection with the Gerrity acquisition, will expire in
 approximately four weeks.  Under the terms of the Warrant Agreement, the
 warrants may be exercised at any time up to 5:00 p.m. Eastern Daylight Time on
 May 2, 2001 (the "Deadline").  Each warrant entitles the holder to purchase a
 fully paid and nonassessable share of common stock for $12.50 a share.  Once
 the Deadline has passed, the warrants expire and may no longer be exercised.
 Given the substantial current premium of the stock price over the exercise
 price, the Company wishes to insure that warrant holders are aware of the
 expiration.
     In aggregate, the Company will realize $35.3 million in proceeds and it
 will have approximately 21.6 million shares of common stock outstanding, if
 all the warrants are exercised.
     To exercise warrants, holders must deliver to Mellon Investor Services:
 (i) the warrant certificate with the election to purchase on the reverse of
 the certificate duly completed and signed; and (ii) full payment of the
 exercise price.  Payment must be made by certified or bank check payable to
 Patina Oil & Gas Corporation or Mellon Investor Services.  Delivery should be
 made to:
 
                         Mellon Investor Services
                         Attn:  Mike Cucchia / Reorg. Dept.
                         85 Challenger Road
                         Ridgefield Park, NJ 07660
                         Phone: (201) 296-4092
                         Fax:   (201) 329-8936
 
     Any questions as to the exercise procedure should be addressed to
 Mr. Cucchia.
     Holders are advised that warrant certificates must be received at Mellon
 Investor Services' office completed and with appropriate payment on or before
 5:00 p.m. on May 2, 2001.  Requests for exercise received after that time will
 be declined.
 
     Patina is an independent oil company engaged in acquisitions, development,
 exploitation and production of oil and natural gas primarily in Colorado's
 Wattenberg Field.
 
 SOURCE  Patina Oil & Gas Corporation