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News Breaks
February 20, 2013
16:28 EDTFSTForest Oil reports Q4 adjusted EPS 14c, consensus 10c
Reports Q4 revenue $154.9M, consensus $163.11M.
News For FST From The Last 14 Days
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October 1, 2014
16:54 EDTFSTForest Oil says auditor EY includes 'going concern' opinion
Forest Oil Corporation announced that management and the company’s independent auditor, Ernst & Young, EY, have completed the incremental procedures that were previously disclosed on August 11. No restatements to the previously issued financial statements were identified. Forest filed an amended 2013 Annual Report on Form 10-K and amended Quarterly Reports on Form 10-Q for the first and second quarters of 2014 with the SEC on October 1. Although there were no changes to the financial statements for any period presented, these amendments reflect, among other items, revised opinions and disclosures on internal controls over financial reporting and a modified financial statement opinion from EY that now includes a “going concern” opinion due to the fact that, as previously disclosed, Forest has determined that by year-end 2014 the ratio of its total debt to EBITDA may exceed the maximum allowed under its bank credit facility. Please refer to the amended Annual Report on Form 10-K for a more complete discussion.

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