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OIL PRODUCTION ACQUIRED BY HCM AND EXCELCO

 OIL PRODUCTION ACQUIRED BY HCM AND EXCELCO
 OKLAHOMA CITY, June 3 /PRNewswire/ -- HCM, a Texas partnership with


offices in Dallas, Texas, and Edmond, Okla., and Excelco Energy Inc. of Tulsa, Okla., and New York, today announced they have recently consummated the purchase of Shell Western E&P Inc.'s Big Foot Field located 30 miles south of San Antonio, Texas, in Frio and Atascoca Counties.
 The field produces from the Olmos sand and was discovered by Shell in the 1940s. Secondary recovery operations were initiated in 1963. A spokesman for HCM said there are 2.5 million barrels of proved developed reserves and 4 million barrels of proved undeveloped reserves. Financing was accomplished by Bank of Oklahoma and Western National Bank of Tulsa. HCM, with a 60 percent interest, will operate the field.
 Excelco Energy is a recently formed oil and gas producing property acquisition company managed in New York by Jim Sterling, chairman, and in Tulsa by Bob Garner, president. Sterling is the former chairman of PrimeEnergy and Garner was the executive vice president of exploration and production for Occidental Oil and Gas. Excelco's board of directors is made up of former executives of large oil and gas industry companies and consultants.
 -0- 6/3/92
 /CONTACT: Bob Garner, president of Excelco Energy, 918-599-0998/ CO: Excelco Energy Inc.; HCM; Shell Western E&P Inc. ST: Oklahoma, Texas IN: OIL SU: TNM


GK-TS -- NY036 -- 6305 06/03/92 12:05 EDT
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Publication:PR Newswire
Date:Jun 3, 1992
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