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Stampeder Closes Sale to Royalty Trust.

CALGARY, ALBERTA--(BUSINESS WIRE)--Dec. 19, 1996--Stampeder Exploration Ltd. announced that it has completed its disposition of a royalty on approximately 3,900 boe/day of production to Viking Energy Royalty Trust and the sale of the underlying properties to Viking Acquisitions Ltd. for net proceeds of approximately $140,000,000. A significant portion of the properties were acquired by Stampeder as a result of its recent acquisitions of Morgan Hydrocarbons Inc. and Ballistic Energy Corporation.

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

(403) 265-4224
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Publication:Business Wire
Date:Dec 19, 1996
Words:188
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