Some of these columns come harder than others. This is an easy one.

Some 7 months ago, investment company VS&A Communication Partners in New York announced they were selling Hart Publications in order to monetize the increase in the company's value after 3 years of unparalleled profitability. We were on the block.

There followed a number of months of intense sales presentations and negotiations with a number of interested parties. The results were better than we could have hoped for. We are pleased to be able to announce the formation of Hart Energy Publishing, LP, formed through a management-led buyout of the former Hart Publications from VS&A Communications Partners. Hart Energy Publishing was formed by Hart management and Wiegers Capital and includes prominent energy investors from Denver, Colo., and New York. The transaction was initiated by Compass Advisers of New York, who also acted as financial advisor to, and assisted in the negotiations as the representative of, Hart management. J.P. Morgan Chase provided debt financing to the transaction.

So what does all this mean. Well, a good deal, as it turns out. First, it's the opportunity to employ our capital and earnings on new products and services to you, our readers and customers. Going forward, you will find no more innovative or dedicated information provider in the upstream industry. From new publishing initiatives to a re-emphasis on global coverage of oil and gas technology, economics and developments, we plan to be there first, when and where it counts. That will not, of course, be at the expense of the quality of our existing publications and information sources. Look for a renewed commitment and emphasis there, too. In short, we now have the drive and resources to raise the bar in publishing and information provision, and we will.

Second, we are now able to focus on the many synergies between our upstream, midstream and downstream publishing and information groups. Hart Energy Publishing, LP, spans the hydrocarbon industry with publications and services that include Energy Markets, PipeLine and Gas Technology, World Refining, the International Fuel Quality Center, a suite of focused newsletters and technical and economic consulting to the midstream and downstream industry.

Third, we are nearly 100 strong, with offices in Houston, Texas, Washington, DC, Denver, New York, London, Brussels and Singapore. We plan to bring the global scope of our information gathering and analysis capabilities to all our endeavors. With resources across the globe and a commitment to continued international expansion, you can expect only authoritative, in-depth and on the ground information from Hart Energy Publishing, LP.

As you can see, we are making some big plans and some big promises. Stay tuned. With our new resources and our continuing commitment to quality and accuracy, you will like what you see.

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