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CODA ENERGY REPORTS RESULTS

 CODA ENERGY REPORTS RESULTS
 DALLAS, July 29 /PRNewswire/ -- Coda Energy, Inc. (NASDAQ-NMS: CODA)


reports significantly higher revenues, cash flows, earnings and production levels for the second quarter and six months ended June 30, 1992 vs. comparable 1991 figures.
 -- Second quarter and six month revenues both increased 40 percent from 1991 levels to $5,339,000 and $10,925,000.
 -- Cash flows from operating activities before changes in other current assets and liabilities increased 21 percent to $1,186,000 for the second quarter and increased 18 percent to $2,617,000 for the first six months of 1992.
 -- Net income was $54,000 for the second quarter and $188,000 for the six months vs. losses of $165,000 and $393,000 for the 1991 quarter and six months.
 -- Total production for the quarter increased 9 percent to 274,120 equivalent barrels and 16 percent to 581,813 equivalent barrels during the first half.
 Douglas Miller, Coda's chairman said, "Our growth plan continues to work because of our dedication to cost and operational controls despite volatile product prices."
 Coda Energy, Inc. is an oil and gas acquisition and production company headquartered in Dallas, Texas with principal operations in Texas, Colorado and Oklahoma.
 Additional information about Coda Energy, Inc. may be obtained by contacting the company's Chairman, Doug Miller, at Coda's headquarters, 9400 N. Central Expressway, Lock Box 187, Dallas, Texas 75231, 214-692-1800.
 CODA ENERGY, INC. AND SUBSIDIARIES
 Consolidated Statements of Operations
 (in thousands, except per share amounts -- unaudited)
 Periods ended Three months Six months
 June 30, 1992 1991 1992 1991
 Revenues:
 Oil and gas sales $3,990 $2,715 $8,148 $5,353
 Gas marketing and plant sales 1,300 971 2,656 2,082
 Other income 49 125 121 347
 Total 5,339 3,811 10,925 7,782
 Costs and expenses:
 Oil and gas production 1,963 1,202 3,936 2,366
 Gas marketing and plant
 purchases 1,206 936 2,471 2,008
 Depletion, depreciation
 and amortization 1,106 1,019 2,331 1,995
 General and administrative 600 448 1,119 1,031
 Interest 382 371 783 775
 Total 5,257 3,976 10,640 8,175
 INCOME (LOSS) BEFORE INCOME TAXES 82 (165) 285 (393)
 INCOME TAX EXPENSE 28 -- 97 --
 NET INCOME (LOSS) $ 54 $ (165) $ 188 $ (393)
 NET INCOME (LOSS) PER COMMON
 AND COMMON EQUIVALENT SHARE $.01 $(.02) $.02 $(.05)
 WEIGHTED AVERAGE NUMBER OF COMMON
 AND COMMON EQUIVALENT SHARES
 OUTSTANDING 8,617 8,542 8,615 8,613
 -0- 7/31/92
 /CONTACT: Doug Miller, chairman of Coda Energy, 214-692-1800/
 (CODA) CO: Coda Energy Inc. ST: Texas IN: OIL SU: ERN


SH -- NY031 -- 4501 07/29/92 10:27 EDT
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Date:Jul 29, 1992
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