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GLOBAL NATURAL RESOURCES ANNOUNCES SALE OF FRUITLAND RESERVES TO LIMITED PARTNERSHIP

 HOUSTON, Feb. 5 /PRNewswire/ -- Global Natural Resources Inc. (NYSE: GNR) reported today that it has sold certain of its Fruitland Formation coal bed methane reserves in the San Juan Basin in New Mexico to a newly-formed limited partnership of which Global is the general partner. The limited partner is FAR Gas Acquisitions Corporation, a Colorado corporation. Pursuant to this arrangement, Global will receive approximately $2.7 million at closing and up to $2.4 million over the next 10 years. This transaction will have no effect on Global's continued receipt of the revenues generation by the production.
 Global Natural Resources Inc. is a Houston-based energy company engaged in the exploration, development and production of oil and gas in North America. The company also owns an interest in long-term oil and gas production sharing contracts in Indonesia and has joint venture projects in Tatarstan-Russia and Malaysia.
 -0- 2/5/93
 /CONTACT: Robert F. Vagt or Eric Lynn Hill of Global Natural Resources Inc., 713-880-5464/
 (GNR)


CO: Global Natural Resources Inc. ST: Texas IN: OIL SU:

SH -- NY026 -- 3499 02/05/93 11:46 EST
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Publication:PR Newswire
Date:Feb 5, 1993
Words:183
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