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ENEX RESOURCES REPORTS FINANCIAL RESULTS FOR FIRST QUARTER OF 1993

 KINGWOOD, Texas, April 22 /PRNewswire/ -- Enex Resources Corporation (NASDAQ: ENEX), a company which acquires and manages producing oil and gas properties and markets oil and gas income programs, today reported financial results for the first quarter ended March 31, 1993.
 Net income for the first quarter was $262,334 or $.20 per primary share, on total revenues of $1,466,930. This compares with net income of $227,746 or $.16 per share, on revenues of $1,305,676 for the same period of 1992. This represents a 25 percent increase in per share net income over the first quarter of 1992. Cash flow from operations before changes in working capital was $584,256 or $.44 per share. This compares with $524,438 or $.36 per share for the first quarter of 1992.
 Gerald B. Eckley, president of Enex, stated, "Earnings and cash flow continue to increase as production is replaced and cost controls remain in place. The increase in gas prices we have seen in recent months will enhance operating results as the additional revenues flow almost directly to the bottom line."
 -0- 4/22/93
 /CONTACT: Robert E. Densford, VP, secretary and treasurer of Enex Resources Corporation, 713-358-8401/
 (ENEX)


CO: Enex Resources Corporation ST: Texas IN: OIL SU: ERN

CK -- NY058 -- 9359 04/22/93 11:15 EDT
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Publication:PR Newswire
Date:Apr 22, 1993
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