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ALTA ENERGY INCREASES PROVED RESERVES BY 33 PERCENT

 ALTA ENERGY INCREASES PROVED RESERVES BY 33 PERCENT
 DENVER, March 19 /PRNewswire/ -- Alta Energy Corporation


(AMEX ECM: ALE.EC) announced a 33 percent increase in proved barrel of oil equivalent reserves to 28.9 million barrels. The addition results from a transaction in which an Alta subsidiary increased its 50 percent ownership in an oil and gas partnership to 80 percent and assumed an equivalent increase in its share of the partnership's development and operating expenses. The partnership is engaged in the infill drilling and waterflood development of certain oil properties located within the Permian Basin in New Mexico. The transaction has the effect of increasing Alta's consolidated long-term debt to $28.9 million from $23.4 million. Alta has 17.7 million shares outstanding on a fully diluted basis.
 Alta Energy Corporation's common stock is traded on the Emerging Company marketplace under the symbol ALE.EC and quoted in "The Wall Street Journal" and "Investors Daily" newspapers.
 -0- 3/19/92
 /CONTACT: Charles Lard of Alta Energy, 203-677-8707/
 (ECM) CO: Alta Energy Corporation ST: Colorado, Connecticut IN: OIL SU:


KD-SM -- NY086 -- 9831 03/19/92 16:19 EST
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Publication:PR Newswire
Date:Mar 19, 1992
Words:189
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