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CHANDELEUR BAY PRODUCTION COMPANY LTD. COMPLETES A REVERSE TAKEOVER

 VANCOUVER, British Columbia, May 26 /PRNewswire/ -- Chandeleur Bay Production Co. Ltd. (Vancouver: CYJ), an oil & gas company, resumed trading this morning on the Vancouver Stock Exchange as a result of a reverse takeover, whereby an established, non-listed company takes over one already listed on the exchange. It trades under the symbol "CYJ" and is classified as a "Venture" company.
 The company, with assets based in Oklahoma, is now involved in the exploration and development of oil and gas properties. Chandeleur Bay now holds 100 percent working interest in approximately 320 acres located in Creek County, Okla. The property is referred to as the "Red Bank Dutcher Sand Unit."
 The company's capitalization is 25 million shares with no par value of which 13,237,734 are issued and outstanding (including 750,000 shares in escrow). First Canada Securities International Ltd. is the sponsoring member and Montreal Trust Co. is acting as the company's transfer agent.
 For further information, refer to the company's Information Circular dated Feb. 17, 1993.
 Chandeleur Bay Production Co. Ltd., William S. McKee, president, 526 - 736 Granville St., Vancouver, B.C. V6R 1G3, 604-684-6884
 -0- 5/26/93
 /CONTACT: David A. Laundy of the Vancouver Stock Exchange, 604-689-3334/
 (CYJ.)


CO: Chandeleur Bay Production Co. Ltd.; Vancouver Stock Exchange ST: British Columbia IN: OIL SU: TNM

JL -- LA023 -- 2697 05/26/93 18:59 EDT
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Publication:PR Newswire
Date:May 26, 1993
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