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HONDO ANNOUNCES PLANS FOR ALASKAN-MACKENZIE PIPELINE SYSTEM

 ROSWELL, N.M., Feb. 5 /PRNewswire/ -- Hondo Oil & Gas Co. (AMEX: HOG) reported today that its wholly owned subsidiary, Mackenzie Porcupine Pipeline Co., has filed a notice of intent with the State of Alaska for a pipeline right-of-way to transport gas from known fields in the Mackenzie Delta area of Canada to Kenai, Alaska, where it will be converted into Liquified Natural Gas (LNG) for sale to Pacific Rim markets. The Alaskan-Mackenzie system will be designed to handle a minimum of 2 billion cubic feet of gas per day. The line will operate at low temperatures and should have minimum environmental impact.
 The proposed pipeline will receive Mackenzie Delta gas at the U.S./Canadian border, and the right-of-way will run from the U.S. border to a point south of Circle, Alaska, where it will cross the Yukon river and thereafter follow the existing Circle to Fairbanks road. The line will proceed south from Fairbanks along the Alaska Railroad corridor and cross Cook Inlet to a final site for the LNG facilities on the Kenai peninsula.
 The Alaskan-Mackenzie gas line is not intended to compete directly with the Yukon-Pacific Project, which is proposed to deliver Alaska North Slope gas to Valdez, Alaska. In fact, construction of the Alaskan-Mackenzie system could accelerate the date of initial delivery of gas from the North Slope to markets along the Pacific Rim by opening up new markets at an earlier date.
 The project would make natural gas available in the Fairbanks area for domestic and industrial use. The availability of large quantities of gas along the proposed Alaskan-Mackenzie pipeline right-of-way and in the Kenai industrial area has the potential to attract additional industrial development for Alaska.
 Construction of this project is targeted for later this year with a goal to commence gas delivery in mid- to late 1997 in order to meet rapidly emerging demands for electric power in the eastern pacific.
 Robert O. Anderson is the president and chairman of Mackenzie Porcupine and its parent, Hondo Oil & Gas Co. William W. Daily is vice president of both companies.
 Anderson and Daily have extensive backgrounds in Alaskan oil and gas activities. Anderson and Daily have recently returned from an extended trip to China and the Orient and believe there is a unique opportunity for Arctic gas to help satisfy the rapidly growing demand for energy in that part of the world.
 -0- 2/5/93
 /CONTACT: William W. Daily, VP of Hondo Oil & Gas and Mackenzie Porcupine Pipeline Co., 818-591-3640/
 (HOG)


CO: Hondo Oil & Gas Co.; Mackenzie Porcupine Pipeline Co. ST: New Mexico, Alaska IN: OIL SU:

JB-LS -- LA005 -- 3351 02/05/93 08:02 EST
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Publication:PR Newswire
Date:Feb 5, 1993
Words:443
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