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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Big Dog who wrote (71053)	8/16/2000 7:30:48 PM
From: sportsman	Respond to of 95453

Triton debt upgraded: NEW YORK, Aug 16 - Fitch has upgraded Triton Energy Limited's senior unsecured debt rating to BB-' from B+'. The rating action affects approximately $400 million in outstanding securities. The Rating Outlook remains Positive. The upgrade is a result of successful delineation wells in Triton's Ceiba oil field offshore of Equatorial Guinea (EG). Triton recently reported the success of the Ceiba-5 well that penetrated 243 feet of net oil-bearing pay and encountered a new oil pool with an oil-water contact 328 feet below the oil-water contact of the primary Ceiba pool. Ceiba-5 is the fifth commercially successful well that has been drilled since Triton discovered the Ceiba field in October 1999. Currently, Triton expects phase one production of 52,000 b/d gross from the Ceiba 1-4 wells by year-end. The anticipated net production from phase one will essentially double Triton's existing net worldwide production. Triton will drill one more delineation well on the Ceiba field by the end of September and it will also drill six exploration wells on additional Triton acreage during the remainder of 2000 and early 2001. Initial production from phase one and/or successful exploration efforts could result in a further upgrade. Fitch anticipates Triton's interest coverage, as measured by EBITDA/interest, will be approximately 5.0 times for 2000 with debt/EBITDA ranging between 2.0-2.25 times. Going forward with phase one production for 2001, Triton's EBITDA/interest should be above 8.0 times with debt/EBITDA around 1.5 times. Using mid-cycle' pricing assumptions for 2001, EBITDA/interest would be approximately 6.0 times with debt/EBITDA being slightly below 2.0 times. Triton Energy Limited is a Dallas-based international oil and gas exploration and production company with major oil and gas assets in West Africa, Latin America and Southeast Asia.

To: Big Dog who wrote (71053)	8/16/2000 7:36:22 PM
From: BigBull	Read Replies (1) \| Respond to of 95453

Big, thanks for the Dain comments re KEG. Imo the stock is still cheap enough to wait until earning come out. If the company surprises on the upside still time to buy if the upside target is 15.