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ADOBE RESOURCES AND SANTA FE ENERGY RESOURCES TO DISMISS LAW SUIT

 ADOBE RESOURCES AND SANTA FE ENERGY RESOURCES TO DISMISS LAW SUIT
 NEW YORK, April 21 /PRNewswire/ -- Adobe Resources Corporation (NYSE: ADB) and Santa Fe Energy Resources, Inc. (NYSE: SFR) announced today that they had entered into an agreement which provides for the settlement of a law suit brought by two holders of the preferred shares of Adobe Resources relating to the proposed merger of Adobe with and into Santa Fe.
 Pursuant to this agreement and the order of the court in this law suit, Adobe and Santa Fe have agreed to resolicit their shareholders by submitting an agreed upon supplemental disclosure statement and the plaintiffs have agreed to dismiss the law suit with prejudice subject to approval of the merger by shareholders and its subsequent consummation, the entering into of a customary stipulation of settlement, and the approval of the settlement by the court upon notice to the preferred shareholders of Adobe. There was no agreement as to fees to be paid to plaintiffs attorneys, which will instead be fixed by the court upon notice.
 The current schedule calls for reconvening shareholders meetings for both companies on May 19, 1992. An immediate consummation of the merger will occur on that date, should shareholders again approve the proposed transaction. Original shareholders meetings were held on March 31, 1992, at which time the proposed merger was approved by over 96 percent of all classes of stockholders of both companies represented at the meetings. The original proxies voted at the March 31 shareholders meetings will remain valid. Shareholders who desire to change their vote, or did not vote originally, will need to send in new proxies. New proxies with supplemental disclosure information are expected to be mailed to shareholders this week.
 Adobe, headquartered in New York City, is primarily engaged in domestic and international oil and gas exploration and production as well as the gathering, processing, and transmission and marketing of natural gas, and Santa Fe, headquartered in Houston, is an independent (non-integrated) oil and gas exploration and production company.
 -0- 4/21/92
 /CONTACT: C. Ed Hall of Santa Fe Energy Resources, 713-783-2401, or Robert F. Vagt of Adobe Resources Corporation, 212-758-8110/
 (ADB SFR) CO: Adobe Resources Corp.; Santa Fe Energy Resources Inc. ST: New York, Texas IN: OIL SU:


TQ -- NY052 -- 0570 04/21/92 11:16 EDT
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Publication:PR Newswire
Date:Apr 21, 1992
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