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CODA COMPLETES KANSAS ACQUISITION

 DALLAS, July 30 /PRNewswire/ -- Coda Energy, Inc. (NASDAQ-NMS: CODA) announced the completion of its acquisition of oil and gas properties in southwestern Kansas from a major oil company. The purchase price of the properties acquired was approximately $15,800,000 after certain preferential rights to purchase were exercised by other parties.
 Effective Aug. 1, 1993 Coda will assume operations of 66 wells of the 71 total wells acquired in the transaction. Daily production from the wells is approximately 700 net barrels of oil and 1250 net mcf of gas which represent increases of 25 percent and 18 percent, respectively, over Coda's average net daily production for the first six months of 1993.
 Doug Miller, Coda chairman, said, "Our consulting engineers have identified several potential secondary recovery projects associated with the acquired properties. These are good examples of properties which offer the exploitation opportunities we try to find when acquiring oil and gas properties."
 Coda Energy, Inc, is an oil and gas acquisition, exploitation, development and production company headquartered in Dallas with principal operations in Texas and Oklahoma. The company's stock is traded on the NASDAQ National Market System under the symbol CODA.
 Additional information about Coda Energy, Inc. may be obtained by contacting the company's president, Ted Eubank, at Coda's headquarters, 5735 Pineland Drive, Suite 300, Dallas, Texas 75231, 214-692-1800 or 800-486-2632.
 -0- 7/30/93
 /CONTACT: Ted Eubank, president of Coda Energy, Inc., 214-692-1800, or 800-486-2632/
 (CODA)


CO: Coda Energy, Inc. ST: Texas, Kansas IN: OIL SU: TNM

MP -- NY036 -- 7727 07/30/93 12:11 EDT
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Publication:PR Newswire
Date:Jul 30, 1993
Words:258
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