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NOBLE AFFILIATES TRADES FOR OFFSHORE TUNISIAN CONCESSIONS

       NOBLE AFFILIATES TRADES FOR OFFSHORE TUNISIAN CONCESSIONS
    ARDMORE, Okla., Jan. 13 /PRNewswire/ -- Noble Affiliates, Inc. (NYSE: NBL) today announced that one of its units, Samedan of Tunisia, Inc., has signed a letter of intent to exchange an interest in its Zinnia concession, located onshore Tunisia, for interests in six offshore Tunisian concessions, effective July 1, 1991.  The exchange, which is subject to execution of a definitive exchange agreement and approval by the Tunisian authorities, will be made with AGIP (Africa) Ltd., a wholly owned entity of AGIP.
    Samedan of Tunisia will assign a 25 percent interest in its 53.3 percent owned Zinnia concession.  The concession contains two wells which have tested oil at rates between 338 and 1,350 barrels per day and gas at rates between 3.9 and 18.3 million cubic feet per day.
    As a result of the exchange, Samedan of Tunisia will receive a 40 percent interest in the Tazerka and Birsa concessions, 50 percent interest in the Oudna concession, 20 percent interest in the Isis concession, 33.3 percent interest in the Cosmos concession and a 41.6 percent interest in the Yasmin concession.  Subsequent to the exchange, the company will own the following interests in Tunisian concessions:  Zinnia - 28.3 percent; Tazerka - 80 percent; Birsa - 80 percent; Oudna - 100 percent; Isis - 62 percent; Cosmos - 66.7 percent; and Yasmin - 83.2 percent.
    Samedan of Tunisia is the operator of all the concessions, except Zinnia, and has an office located in Tunis.  Tazerka is the only concession presently producing.  It contains five wells which are producing approximately 2,350 barrels of oil per day into a moored floating production and storage unit.
    Development options for the Zinnia concession are being studied, including a proposed production testing period during which the oil would be trucked to a nearby refinery.
    "It is our intent to secure a joint venture partner to assist us in exploitation of the Tazerka field as well as other concessions," said Robert Kelley, Noble's president and chief executive officer.  "We expect to actively pursue the development of the oil reserves contained within these concessions."
    Noble Affiliates, Inc. is an independent energy company with exploration and production operations throughout major basins in the United States, including the Gulf of Mexico and offshore California, as well as international operations primarily in Canada, Tunisia and Indonesia.
    -0-      1/13/92
    /CONTACT:  William D. Dickson of Noble Affiliates, 405-223-4110/
    (NBL) CO:  Noble Affiliates Inc. ST:  Oklahoma IN:  OIL SU: SH -- NY037 -- 9063 01/13/92 11:48 EST
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Publication:PR Newswire
Date:Jan 13, 1992
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