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COMSTOCK RESOURCES, INC. ANNOUNCES ACQUISITION OF OIL AND GAS PROPERTIES

 DALLAS, April 12 /PRNewswire/ -- Comstock Resources, Inc. (NASDAQ-NMS: CMRE) today announced that it closed an acquisition of producing oil and gas properties on April 8.
 Comstock acquired a 50 percent working interest in the Iberia field in Iberia Parish, La. There are currently four producing oil wells in the field which will be operated by Comstock. In addition, Comstock estimates that it will drill four offset wells in the field. Comstock's independent petroleum engineers estimated that the proved oil and gas reserves attributable to Comstock's acquired interest in the field are 364,000 barrels of oil as of Jan. 1, 1993 (the effective date of the acquisition). Such oil reserves have estimated future revenues of $6.6 million and future net cash flows of $4.4 million using a non-escalated price for oil of $18.00 per barrel. The present value of the future cash flows attributable to the reserves discounted at 10 percent per annum is $2.3 million.
 Comstock Resources, Inc. is primarily engaged in the acquisition, development and production of oil and gas in the southwestern United States.
 -0- 4/12/93
 /CONTACT: M. Jay Allison, president and chief executive officer of Comstock Resources, Inc., 214-701-2000/
 (CMRE)


CO: Comstock Resources, Inc. ST: Texas IN: OIL SU: TNM

CK -- NY042 -- 4717 04/12/93 11:29 EDT
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Publication:PR Newswire
Date:Apr 12, 1993
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