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Gold/Mining/Energy : Canadian Oil & Gas Companies

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To: Kerm Yerman who wrote (915)	11/14/1996 6:20:00 AM
From: Kerm Yerman	of 24921

TOP TWENTY UPDATE / STAMPEDER EXPLORATION November 14, 1996 STAMPEDER GALLOPS By LEIF SOLLID Calgary Sun ÿ Fast-growing Stampeder Exploration Ltd. is reporting a big jump in nine-month cash flow and slightly improved earnings following a pair of major transactions. ÿ The Calgary-based company yesterday announced cash flow of $40.9 million in the period ended Sept. 30, a 52% increase over the $26.9 million it generated in 1995. ÿ Stampeder's net earnings for the period were up 13% to $4.3 million or 9 cents per share from $3.8 million or 10 cents per share a year ago. ÿ Stampeder president Jeffery Tonken said the lower per-share earnings reflect a 25% increase in outstanding shares between 1996 and 1995. ÿ Average production for the first three quarters was 12,860 barrels of oil equivalent (BOE) per day, a 36% increase from 9,478 BOE daily in 1995. ÿ Tonken said the nine-month results don't reflect the company's $514-million fourth-quarter acquisition of Morgan Hydrocarbons Inc. ÿ However, two other transactions have had a major impact on Stampeder's bottom line: the $135.8-million takeover of Ballistic Energy Corp. in June and the $132-million sale of assets to Maximum Energy Trust. ÿ "Stampeder is well ahead of its growth targets," Tonken said, noting the Ballistic deal and royalty trust sale added 300,000 acres of undeveloped land in southern Saskatchewan to its asset base and 3,000 BOE daily in light oil production. ÿ Tonken said the takeover of Morgan moved Stampeder into among the top 15 producers in Canada, more than doubling its currently daily production to 38,000 BOE per day. ÿ He said Stampeder intends to pay down a $140 million of its debt by selling certain oil and gas properties to Viking Energy Royalty Trust.

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