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PARTNERS OIL COMPANY ANNOUNCES RECOMPLETION IN A BEHIND-PIPE ZONE IN EXISTING WELL

 OKLAHOMA CITY, Aug. 10 /PRNewswire/ -- Partners Oil Company's management announced a recompletion in a behind-pipe zone in the existing B6-D well on its operated North Padre Island Block 956 on Aug. 6, 1993. The recompletion tested at 1.4 million cubic feet per day and is currently producing at a stabilized rate of approximately 2.0 million cubic feet per day. Partners' interest in this recompletion represents a 75 percent working interest and a 52.875 percent net revenue interest.
 The recompletion represents an approximate 20 percent improvement in the combined production from the North Padre Island Blocks 956 and 967. It is estimated that Partners' net costs of recompletion, approximately $107,000, will be recovered in two months. The revenues associated with this recompletion should have a significant impact on the third and fourth quarter earnings as the addition of this production bear little to no incremental operating expense.
 Partners Oil Company is a publicly owned Oklahoma City-based exploration and production company with primary operations offshore Texas whose common stock is traded on NASDAQ.
 -0- 8/10/93
 /CONTACT: Michael J. McGrath, executive vice president, Partners Oil Company, 405-848-6016/


CO: Partners Oil Company ST: Oklahoma IN: OIL SU:

LG -- NY034 -- 1120 08/10/93 10:26 EDT
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Publication:PR Newswire
Date:Aug 10, 1993
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