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EDISTO RESOURCES CORPORATION ANNOUNCES MANAGEMENT CHANGES

 DALLAS, July 2 /PRNewswire/ -- Edisto Resources Corporation (AMEX: EDS), today announced that James R. McNab Jr., chief executive officer and chairman of the board of Edisto, has resigned. Michael Y. McGovern, of Houston, will succeed McNab as chief executive officer and chairman of the board of Edisto, effective July 1, 1993.
 McNab led Edisto through a successful restructuring pursuant to a plan of reorganization, which was confirmed on May 27, 1993 and which became effective
as of June 29, 1993. McNab stated that "With the consummation of Edisto's plan of reorganization, we have completed a demanding and difficult restructuring process that began in early 1992. Edisto has emerged a cleaner, healthier energy concern positioned to take advantage of opportunities in the natural gas industry, and it is an appropriate time for me to step down and attend to my other business interests."
 McGovern was selected to succeed McNab based on McGovern's experience in managing and evaluating oil and gas companies in restructuring and post-restructuring environments. McGovern has served as president of American National Petroleum Company since November 1987. McGovern previously served as president and director of OXOCO, Inc.
 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- 7/2/93
 /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: PER

SH -- NY010 -- 5737 07/02/93 11:43 EDT
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Publication:PR Newswire
Date:Jul 2, 1993
Words:252
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