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NERCO PLATFORMS SUSTAIN NO SIGNIFICANT STRUCTURAL DAMAGE

 NERCO PLATFORMS SUSTAIN NO SIGNIFICANT STRUCTURAL DAMAGE
 HOUSTON, Sept. 10 /PRNewswire/ -- NERCO Inc. (NYSE: NER; Toronto) announced today that based upon a preliminary evaluation, its oil and gas subsidiary's offshore platforms did not sustain any significant structural damage as a result of Hurricane Andrew.
 NERCO Oil & Gas Inc. has interests in 36 offshore platforms in the Gulf of Mexico. Seven platforms and three contracted drilling rigs were in the direct path of the hurricane. Production at these and other platforms was shut-in and drilling activities were suspended as a precautionary measure prior to the storm. Fifteen million cubic feet of natural gas and 2,000 barrels of oil from NERCO's average net daily production remains shut-in due to downstream transportation problems resulting from the hurricane.
 According to NERCO Inc. President and Chief Executive Officer Lawrence E. Heiner, "While our evaluations are still in process, we are pleased that our platforms do not appear to have incurred major damage. We expect most of the affected production to be back on-line within the next few weeks, and we have resumed drilling activities on several sites. Although some downstream repairs could take up to three months to complete, there should be minimal economic loss to NERCO from the effects of this event."
 NERCO Oil & Gas is an independent oil and gas exploration and production company with a division office in Houston and regional offices in Natchitoches and Lafayette, La. NERCO Oil & Gas is wholly owned by NERCO Inc., a diversified natural resource company with interests in low-sulfur coal, oil and natural gas, and precious metals. Approximately 82 percent of NERCO's common stock is beneficially owned by PacifiCorp (NYSE: PPW).
 -0- 9/10/92
 /CONTACT: John C. Cummings, 503-731-6649, or Scott A. Hibbs, 503-731-6723, both of NERCO Inc./
 (NER) CO: NERCO Inc.; NERCO Oil & Gas Inc. ST: Oregon, Louisiana IN: OIL SU:


LM -- SE016 -- 8213 09/10/92 16:51 EDT
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Publication:PR Newswire
Date:Sep 10, 1992
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