Paramount Resources begins tender offer for 8½% senior notes due 2013

By Susanna Moon

Chicago, Nov. 10 - Paramount Resources Ltd. said its wholly owned subsidiary 1339351 Alberta Ltd. began a cash tender offer for $90.2 million principal amount of the company's 8½% senior notes due 2013.

Holders will receive $1,002.50 for each $1,000 principal amount of notes plus accrued interest up to, but excluding, the payment date.

The tender offer will end at 11:59 p.m. ET on Dec. 9.

Scotia Capital (USA) Inc. (800 372-3930) is the dealer manager. Global Bondholders Services, Inc. (866 470-3900) is the information agent.

Paramount is a Calgary, Alta., oil and natural gas exploration and production company.

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