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BROCK EXPLORATION CORPORATION ANNOUNCES RESERVES INCREASED 25 PERCENT FOR FISCAL 1993

 NEW ORLEANS, July 7 /PRNewswire/ -- Brock Exploration Corporation (AMEX: BKE), headquartered in New Orleans, reported audited net income of $245,000 or $.06 per share on revenues of $2.5 million for the fourth quarter ended March 31, 1993.
 These results compare with a net loss of $5,000 or $.00 per share on revenues of $2.6 million for the fourth quarter ended March 31, 1992.
 Audited net income for the fiscal year ended March 31, 1993 was $873,000 or $.34 per share on revenues of $10.7 million as compared with last year's audited net income of $243,000 or $.06 per share on revenues of $9.9 million.
 The company also had a great year for reserve replacement. Proved reserve quantities at March 31, 1993 increased by 995,000 equivalent barrels to 5,010,000 equivalent barrels from 4,015,000 equivalent barrels at March 31, 1992.
 Purchases, discoveries and extensions of reserves represented 240 percent of production and sales of minerals-in-place for the year ended March 31, 1993.
 For the year ended March 31, 1993 long-term debt increased by $891,000 to $8,166,000. Debt per equivalent barrel for the year ended March 31, 1993 was $1.63 compared to $1.81 for the year ended March 31, 1992.
 In late April 1993, Brock Oil and Gas Corporation ("BOGC") a wholly owned subsidiary of Brock Exploration Corporation had made offers to repurchase the limited partners' units in the partnerships in which BOGC is the managing general partner. As a result of this repurchase, BOGC has acquired interests in approximately 2.0 billion cubic feet of gas, and 39,000 barrels of oil for approximately $1.5 million.
 SELECTED OPERATING AND FINANCIAL HIGHLIGHTS
 Pct.
 Operating highlights 3/31 1993 1992 Chg.
 Proved reserve quantities at 3/31:
 Oil - Bbls. $ 2,981,000 $ 1,982,000 50
 Gas - Mcf. 12,169,000 12,193,000 (0)
 Equivalent Bbls.(a) 5,010,000 4,015,000 25
 Changes in proved reserve quantities
 for the year ended March 31(a)
 Purchases, discovers and
 extensions $ 1,424,000 $ 955,000 49
 Revisions of previous
 estimates 282,000 53,000 432
 Production (605,000) (612,000) (1)
 Sales of minerals-in-place (106,000) (138,000) (23)
 Net change 995,000 258,000 286
 Purchases, discoveries and
 extensions of reserves as
 a percent of production
 and sales of
 minerals-in-place 240 pct. 134 pct. 79 pct.
 Average prices realized
 Oil - per Bbl. $ 18.79 $ 19.35 (3)
 Gas - per Mcf. $ 1.71 $ 1.33 29
 Production costs per
 equivalent Bbl. $ 6.19 $ 6.46 (4)
 Financial Highlights
 Financial Position
 Total assets $20,449,000 $17,737,000 15
 Working capital 1,073,000 1,283,000 (16)
 Long-term debt 8,166,000 7,275,000 12
 Common shareholders' equity 8,181,000 7,406,000 10
 Book value per common share 2.10 1.89 11
 Financial Results
 Oil and gas revenues $ 8,867,000 $ 8,035,000 10 pct.
 Total revenues 10,694,000 9,852,000 9 pct.
 Net earnings 873,000 243,000 259 pct.
 Net earnings per share 0.22 0.06 267 pct.
 Net cash provided by
 operations 3,276,000 1,853,000 77 pct.
 Capital expenditures 4,641,000 3,439,000 35 pct.
 (a) Gas quantities are converted to equivalent Bbl. on a 6-to-1 basis.
 For a copy of the annual report or any quarterly reports, please contact the Stockholder Relations Department, Brock Exploration Corporation, 225 Baronne St., Suite 700, New Orleans, LA 70112-1707.
 -0- 7/7/93
 /CONTACT: Brock Exploration Corporation, investor relations department, 504-586-1815/
 (BKE)


CO: Brock Exploration Corporation ST: Louisiana IN: OIL SU: ERN

RA-SB -- AT001 -- 8906 07/07/93 08:02 EDT
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Date:Jul 7, 1993
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