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To: SliderOnTheBlack who wrote (49974)	8/27/1999 1:37:00 PM
From: SliderOnTheBlack	Read Replies (1) \| Respond to of 95453

The '3 Horsemen' SLB HAL BHI looking strong... ...how many times have we seen these 3 lead us out of a retracement ? but; still an E&P game (VBG)... but wanting the Falcon cheap here...

To: SliderOnTheBlack who wrote (49974)	8/27/1999 2:40:00 PM
From: Think4Yourself	Respond to of 95453

RRC needs to close the JV deal and consolidate/reclassify their debt by Aug 31. That is when their Credit Facility limit is re-evaluated. I have posted below quotes from recent press releases. To me there is a potential problem if they cannot close the deal by Aug 31. They may have to repay up to ( (385-41.9) - 300 = $43.1 million by Sept 11. That's $23.1 mil more than they have available at the moment. If they don't get the deal done and the redetermined amount is below $300 mil, they might be in short term trouble. I personally do not think it will happen, but it is a concern. The borrowing base is currently $385 million and is subject to semi-annual redetermination... At August 10, 1999, the Company had $41.9 million of availability under the Credit Facility... If amounts outstanding under the Credit Facility exceed the higher of the redetermined borrowing base or $300 million on August 31, 1999, then the Company will have 10 days to repay any excess... Commenting on the results, John H. Pinkerton, President and Chief Executive Officer, noted... By September 30, we expect to complete our Appalachian joint venture... Range Resources Corporation (NYSE:RRC - news) announced today that the Company had reached an agreement with its bank group extending the date for its next borrowing base review to August 31, 1999. The review had previously been scheduled for June 30. Pursuant to the agreement, the bank group will maintain the Company's borrowing base at its present level until the earlier of August 31 or the closing of the Appalachian joint venture announced earlier today... At June 30, 1999, the Company had $20 million in cash and marketable securities ...