Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : KERM'S KORNER -- Ignore unavailable to you. Want to Upgrade?

To: Herb Duncan who wrote (10943)	5/28/1998 4:04:00 PM
From: SofaSpud	Respond to of 15196

FINANCING/ Ranger Oil Issues Notes RANGER OIL LIMITED ISSUES US $133 MILLION OF SENIOR NOTES CALGARY, May 28 /CNW/ - Ranger Oil Limited announced today that it has issued a total of U.S. $133 million in Senior Notes under a private placement with a number of institutional investors in the U.S.A. The total comprises U.S. $40 million of 6.42% Notes due May 2004 with a six-year average life and U.S. $93 million of 6.64% Notes due May 2009 with an average life of ten years. The funds will be used to repay existing bank debt. The average maturity of the Company's debt is thereby significantly extended with the long-term financing locked in at favorable interest rates. Merrill Lynch acted as Ranger's placement agent in this transaction. Issued by: F.J. Dyment President and Chief Executive Officer -30- For further information: J.M. D'Aguiar, Vice President, Finance or J.G. Faulds, Vice President, Investor Relations, (403) 232-5200