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| Westport Resources Corporation |
| 410 Seventeenth Street, Suite 2300, Denver, CO 80202 * (303) 573-5404 |
| Business Description | The company is an independent energy company engaged in oil and natural gas exploitation, acquisition and exploration activities primarily in the United States. |
| Offering Information Company has | |||
| Trading As | WRC (NYSE) | Industry | Natural Resource (SIC 1311) |
| Type of Stock Offered | Common Shares | Filing Date | 6/29/00 |
| Domestic Shares Offered | 9,150,000 | Offer Date | 10/19/00 |
| Foreign Shares Offered | 0 | Filing Range | $15.00 - $17.00 |
| Company Shares | 9,150,000 | Offer Price | $15.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $1.013 |
| Gross Proceeds | $137,250,000 | Selling | $0.608 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 37,371,023 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| CS First Boston | Lead Manager | (212) 325-2000 |
| Banc of America Securities LLC | Co-manager | (415) 627-2100 |
| Donaldson, Lufkin & Jenrette Securities Corp. | Co-manager | (212) 371-0641 |
| Lehman Brothers Incorporated | Co-manager | (212) 526-8100 |
| Petrie Parkman & Co. | Co-manager | (303) 292-3877 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | 3 Months Ending | ||||||
| Figures in U.S. millions except per share data | 12/31/97 | 12/31/98 | 12/31/99 | 3/31/99 | 3/31/00 | ||
| Revenues | - | - | 63.089 | 51.505 | 73.763 | 14.978 | 24.985 |
| Income from Oper. | - | - | -4.961 | -41.470 | 1.939 | -2.547 | 3.269 |
| Net Income | - | - | -9.381 | -49.361 | -3.126 | -0.159 | 1.397 |
| E.P.S | - | - | -1.510 | -6.730 | -0.320 | -0.020 | 0.130 |
| Revenue Growth (%) | - | - | -18.36 | 43.215 | 66.81 | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | 2.63 | 13.08 | - |
| Net Profit Margin (%) | - | - | - | - | - | 5.59 | - |
| Cash Flow - Oper. | 25.11 | - | - | ||||
| Cash Flow - Inv. | 14.15 | - | - | ||||
| Cash Flow - Fin. | -29.93 | - | - | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 3/31/00 | Financial Ratios | ||||
| Total Assets | 269.50 | Current Assets | - | Current Ratio | - |
| Total Liab. | 128.10 | Current Liab. | - | Debt Ratio | 47.53% |
| Total Equity | 141.41 | Working Cap. | 9.56 | Debt to Equity Ratio | 0.91 |
| Cash | 12.24 | Return on Assets | 0.52% | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for repayment of debt. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Akin, Gump, Strauss, Hauer & Feld |
| Bank's Law Firm | Cravath, Swaine & Moore |
| Registrar/Transfer Agent | American Securities Transfer and Trust |
| Auditor | Arthur Andersen |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| Westport Energy LLC | 50.40 | |
| ERI Investments, Inc. | 49.40 | |
| Note: represents ownership of 5% or more prior to the offering. | ||