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PLAINS RESOURCES ANNOUNCES PUBLIC OFFERING OF COMMON STOCK

    PLAINS RESOURCES ANNOUNCES PUBLIC OFFERING OF COMMON STOCK
    HOUSTON, Nov. 8 /PRNewswire/ -- Plains Resources Inc. (AMEX: PLX) announced today that it had filed a registration statement with the Securities and Exchange Commission relating to a proposed offering of 590,000 shares of its common stock held by certain unaffiliated stockholders.  The company said that it was required to file the registration statement at the request of the selling stockholders under the demand registration provisions of certain pre-existing agreements.
    Greg L. Armstrong, Plains' senior vice president and chief financial officer, said that the offering will also include an additional 910,000 shares of common stock to be sold by the company, resulting in a total offering of 1,500, 000 shares.  The offering will be managed by Smith Barney, Harris Upham & Co., Incorporated, The First Boston Corporation, and Howard, Weil, Labouisse, Friedrichs Incorporated.
    The offering will be made only by a final prospectus. A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective.  These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
    -0-      11/8/91
    /CONTACT:  Nancy J. Kerby, manager-investor relations of Plains Resources, 713-654-1414/
    (PLX) CO:  Plains Resources Inc. ST:  Texas IN:  OIL SU:  OFR JT -- NY060 -- 2705 11/08/91 16:24 EST
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Publication:PR Newswire
Date:Nov 8, 1991
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