Encore Acquisition explores strategic alternatives

By Angela McDaniels

Tacoma, Wash., May 22 - Encore Acquisition Co. said it is exploring a range of strategic alternatives to further enhance shareholder value, including a possible sale or merger of the company.

Lehman Brothers Inc. has been engaged as the company's financial adviser for the review, according to an 8-K filing with the Securities and Exchange Commission.

There is no assurance that the review will result in the company changing its current business plan, pursuing a particular transaction or completing any transaction, the filing stated.

The company said it does not expect to provide any further information on the process unless its board approves a specific transaction.

Encore is a Fort Worth, Texas, developer of onshore North American oil and natural gas reserves.

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