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Gold/Mining/Energy : BEAU Canada (T/M BAU) -- Ignore unavailable to you. Want to Upgrade?

To: Cal Gary who wrote (55)	9/25/2000 2:27:09 AM
From: Cal Gary	Read Replies (1) \| Respond to of 57

NR, Cashflow and lower debt Beau Canada estimates cash flow at $68-million Beau Canada Exploration Ltd BAU Shares issued 91,816,628 Sep 21 close $1.78 Fri 22 Sept 2000 News Release Mr. Bruce Libin reports Cash flow for the year 2000 is now estimated at approximately $68-million (75 cents per share basic), assuming fourth quarter pricing for West Texas Intermediate of $31.60 and NYMEX gas pricing of $5.15. Hedging obligations will be reduced significantly by year-end. A significant increase in cash flow is expected in the year 2001 because of reduced hedging obligations. For example, the company will have approximately $2-million more cash flow for the month of January, 2001, compared with September, 2000, because of reduced hedging obligations. Beau Canada has renegotiated its bank credit facilities. The facility which was being termed out, has been converted to a combined demand and operating facility that will have a maximum availability of $185-million, reducing to $175-million by Dec. 20, 2000. This is reflective of the company's requirements during this period and management does not foresee any difficulties in meeting these obligations. It is anticipated that the facility will be reviewed further and modified prior to the end of the year. Management is pleased with the debt reduction that has occurred in the company. Bank debt ($203-million), term debt ($42-million) and working capital deficiency ($18-million) totalled $263-million as of June 30, 2000. This total is now approximately $195-million comprising $168-million in bank debt, $18-million in term debt and $9-million in working capital deficiency. Further reductions to this total are expected prior to the end of the year. Beau Canada has previously announced that it will be soliciting bids to be received no later than Sept. 25, 2000, for a sale of the company. The board expects to be reviewing such offers and providing further updates in this regard in the near future. (c) Copyright 2000 Canjex Publishing Ltd. stockwatch.com