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Gold/Mining/Energy : KOB.TO - East Lost Hills & GSJB joint venture
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To: Bearcatbob who wrote (3023)6/4/1999 12:59:00 PM
From: grayhairs  Read Replies (1) of 15703
 
BKP's long term debt of $289 MM is mainly the result of some aggressive 1998 acquisitions (~$250 MM). Very astute and timely buying, IMHOBWDIK.

Average 1998 production rate grew to 20,027 boe/d (from only 7,386 boe/d in 1997 !!). Current 1999 production is over 30,000 boepd compared to expected 1999 average of 32,000 boepd and 2000 average of ~40,000 boepd. These estimates conservatively ignore all expected California production. With commodity price increase in 1999 their cash flow /share will grow dramatically. The debt is NO problem for this company. It will be easily managed.

Later,
grayhairs
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