HOUSTON, June 27, 2005 (PRIMEZONE) -- Dune Energy, Inc. ("Dune" or the "Company") (AMEX:DNE) today reported that the targeted Closing Date of Dune's previously announced $56 million acquisition of certain producing and non-producing natural gas and oil properties located in the Barnett Shale play in the North Texas Fort Worth Basin, has been changed from June 30 to July 20, 2005. The Closing Date was extended so as to afford both the Seller and the Company additional time to satisfy required conditions to Closing. As previously reported, Dune has received a commitment from Standard Bank Plc to loan up to $50 million, subject to certain covenants and conditions. The remainder of the purchase price, together with additional funds to support the Company's intended aggressive drilling program, will be raised through Dune's issuance of a combination of subordinated debt and equity.
Forward-Looking Statements
This document includes forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning estimates of expected drilling and development wells and associated costs, statements relating to estimates of, and increases in, production, cash flows and values, statements relating to the continued advancement of Dune Energy, Inc.'s projects and other statements which are not historical facts. When used in this document, the words such as "could," "plan," "estimate," "expect," "intend," "may," "potential," "should," and similar expressions are forward-looking statements. Although Dune Energy, Inc. believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Important factors that could cause actual results to differ from these forward-looking statements include the potential that the Company's projects will experience technological and mechanical problems, geological conditions in the reservoir may not result in commercial levels of oil and gas production, changes in product prices and other risks disclosed in Dune's Annual report on Form 10-KSB filed with the U.S. Securities and Exchange Commission.