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EDISTO ANNOUNCES SALE OF HALL-HOUSTON STOCK

 DALLAS, Sept. 21 /PRNewswire/ -- Edisto Resources Corporation (AMEX: EDS) today announced that it closed Sept. 16 on the sale of all of its 100,000 shares of cumulative convertible redeemable participating preferred stock issued by Hall-Houston Oil Company (HHOC) for the face value price of $100 per share plus accrued dividends for the first and second quarters of 1993. HHOC purchased the stock under the terms of its redemption offer dated Aug. 16, 1993 pursuant to which Edisto had tendered its stock for repurchase. Edisto also sold to HHOC in the same transaction it's rights under a prospect participation agreement along with six existing undrilled prospects for $2.5 million.
 Edisto Resources Corporation's consolidated activities include the production of oil and gas, the exploration and development of oil and gas reserves and natural gas marketing and transportation.
 -0- 9/21/93
 /CONTACT: Gary L. Pittman, vice president-financial services of Edisto Resources Corporation, 214-880-0243/
 (EDS)


CO: Edisto Resources Corporation ST: Texas IN: OIL SU:

SM -- NY023 -- 4083 09/21/93 10:40 EDT
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Publication:PR Newswire
Date:Sep 21, 1993
Words:172
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