BSNX---Basin Exploration Message Board

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Gold/Mining/Energy : BSNX---Basin Exploration

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To: AurumRabosa who wrote (11)	4/30/1998 7:53:00 PM
From: steve kennedy	Read Replies (2) of 30

Details of BSNX downgrade, released just before market close: LOS ANGELES, April 30 (Reuters) - Jefferies and Co. cut its rating on Basin Exploration Inc. to underperform from hold in the belief that recent increases in the price of the company's stock have outpaced near-term fundamentals. -- cut 1998 diluted earnings per share estimate to $0.09 a share from $0.55 and diluted 1999 earnings per share estimate to $0.26 a share from $0.79. -- said in early April the oil producer would fall short of analysts' production estimates, citing delays in well tie-ins. -- said will be difficult for company to post large production gains in 1998. -- stock was off 2-11/16 at 19-13/16 in late trading. ((Los Angeles newsdesk, 213-380-2014, fax 213-622-0056)) REUTERS Rtr 15:56 04-30-98

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