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Updated: 11/30/2009 4:03 PM					Sponsored by:
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Forest Oil offering 12.5 million shares

By Associated Press
May 19, 2009 | Comments (0)

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Oil and gas company Forest Oil Corp. said Tuesday it has started a registered underwritten public offering of 12.5 million shares.

The underwriters will have a 30-day option to buy up to about 1.9 million additional shares.

Forest plans to use the proceeds to repay debt.

Shares fell $1.05, or 5.4 percent, to $18.35 in after-hours trading. The stock had closed up 54 cents, or 2.9 percent, at $19.40 in the regular session.

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