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Gold/Mining/Energy : Stampeder Exploration
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To: Scott Mc who wrote (32)8/7/1997 9:24:00 PM
From: zigler   of 37
 
I think Stampeder did the right thing to find a "stronger" partner since their balance sheet appears to becoming leveraged with debts over 2 times this year's cash flow. In my previous posting I mentioned that Stampeder could be a takeover target by either Talisman or Gulf. I think I would of preferred Talisman. I am still puzzled on how Gulf gets away with a debt to yearly cash flow ratio of nearly 7, including preferred shares. However, if production and cash flow numbers keep improving this will probably be put to the back of most investor's minds. They did state that they are targeting to reduce debts to $2.2 billion by year end. I am now waiting for the information package to get a better handle on the situation after the merger.
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