Forest Oil Completes Merger with Wiser Oil

Forest Oil reports that it completed the merger of a wholly owned subsidiary of Forest into The Wiser Oil Company (NYSE:WZR).

Pursuant to the merger, all shares of Wiser common stock not previously tendered into the first-step cash tender offer have been converted into the right to receive $10.60 per share. As a result of the merger, Wiser is a wholly-owned subsidiary of Forest. Payment of the merger consideration will be made to former holders of Wiser common stock upon proper presentation of certificates formerly representing Wiser shares to Mellon Investor Services, paying agent for the merger, together with a properly completed letter of transmittal. The payment and transmittal process will begin promptly. Questions concerning this process should be directed to the paying agent, Mellon Investor Services, at its toll free number (800) 777-3674.

Forest also announced today that Wiser will redeem its outstanding 9.5% Senior Subordinated Notes due 2007. The redemption date is July 30, 2004.