Stampeder Closes Sale to Royalty Trust.
Stampeder President and C.E.O. Jeff Tonken stated that, "This transaction will result in a substantial reduction of Stampeder's indebtedness and favourably position Stampeder for further growth."
The proceeds will be used by Stampeder to fund the prepayment of US $40 million 7.8 percent secured notes originally issued by International Colin Energy Corporation and the balance of the proceeds will be applied to reduce Stampeder's existing bank loans.
Stampeder Exploration Ltd. is a Calgary-based oil and gas company listed on the New York Stock Exchange and the Toronto Stock Exchange under the symbol "SDX".
CONTACT: Peter A.Williams
Stampeder Exploration Ltd.
Senior Vice President and Chief Operating Officer
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|Date:||Dec 19, 1996|
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