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ENDEVCO, INC. ANNOUNCES CONFIRMATION OF ITS PLAN OF REORGANIZATION

 DALLAS, Sept. 30 /PRNewswire/ -- Endevco, Inc. (AMEX: EI) announced today that it has received confirmation of its Plan of Reorganization (the plan) on Sept. 29, 1993, from the U.S. Bankruptcy Court for the Eastern District of Texas, Sherman Division. The company anticipates that it will fulfill all conditions of the plan and that the plan will become effective within 30 days. The plan calls for a transfer of assets in satisfaction of, among other things, approximately $44.1 million in debt and approximately $27 million of preferred stock and accrued dividends. Though downsized pursuant to the plan, Endevco will retain a core business comprised of gas gathering, processing and marketing and condensate processing and refining.
 Endevco is a gas transportation and processing company. The gas transportation segment includes gathering, transmission and marketing of natural gas. The processing segment includes gas liquids recovery, gas treating and petroleum refining.
 -0- 9/30/93
 /CONTACT: Ray C. Davis, chairman of the board and CEO, or Kelcy L. Warren, president and COO, or Robert L. Cavnar, senior vice president and CFO, 214-691-5536, all of Endevco, Inc./
 (EI)


CO: Endevco, Inc. ST: Texas IN: OIL SU:

SM -- NY134 -- 7586 09/30/93 19:45 EDT
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Publication:PR Newswire
Date:Sep 30, 1993
Words:201
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