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NORCEN ENERGY RESOURCES LTD. ANNOUNCES SPECIAL MEETING

 CALGARY, Alberta, Feb. 24 /PRNewswire/ -- Norcen Energy Resources Ltd. (AMEX: NCN; Toronto, Montreal, Alberta: NCN) announced today that a special meeting of shareholders will be held on April 1, 1993, for the purpose of approving Norcen's proposed acquisition from Noranda Inc. and Daal Energy Holdings Inc., an associate of Noranda, of their combined 50.5 percent common share interest in North Canadian Oils Ltd. The proposed transaction, which was announced on Dec. 9, 1992, has been reviewed by a special committee of independent directors of Norcen, which has concluded that the transaction is fair to the minority shareholders of Norcen. The completion of the transaction is subject to approval by the minority shareholders of Norcen. A proxy circular for the special meeting is to be mailed to shareholders shortly.
 The previously announced proposal to amend Norcen's share capital to change its multiple voting ordinary shares and subordinate voting ordinary shares into common shares on a 1-for-1 basis will be submitted to Norcen shareholders for approval at Norcen's annual meeting scheduled for April 20, 1993.
 -0- 2/24/93
 /CONTACT: Ron Burrows, manager-investor relations of Norcen Energy Resources, 403-231-0107/
 (NCN)


CO: Norcen Energy Resources Ltd.; Noranda Inc.; Daal Energy Holdings
 Inc. ST: Alberta IN: OIL SU: TNM


LS-JB -- LA035 -- 0147 02/24/93 18:47 EST
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Publication:PR Newswire
Date:Feb 24, 1993
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