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THE PHOENIX RESOURCE COMPANIES, INC. REPORTS EARNINGS FOR QUARTER ENDED SEPTEMBER 30, 1993

 OKLAHOMA CITY, Nov. 3 /PRNewswire/ -- The Phoenix Resource Companies, Inc. (AMEX: PHN) reported today earnings of $3 million, or $0.71 per common share, for the quarter ended September 30, 1993 on revenues of $8.5 million. For the same period in 1992 the Company reported $2.7 million, or $0.65 per common share on revenues of $8.1 million.
 For the nine months ended September 30, 1993 income of $12.5 million, or $2.95 per common share, on revenues of $29.8 million was reported, compared to income of $11.1 million, or $2.60 per common share, on revenues of $28.1 million for the same period in 1992.
 The Phoenix Resource Companies, Inc. is an oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma, with its principal assets located in the Arab Republic of Egypt.
 Three Months Ended Nine Months Ended
 September 30, September 30,
 1993 1992 1993 1992
 (Unaudited)
 Revenues(1) $ 8,514,000 $ 8,144,000 $29,807,000 $28,058,000
 Costs and
 Expenses $ 2,895,000 $ 2,752,000 $ 8,889,000 $ 9,427,000
 Provision for Income
 Taxes(1) $ 2,607,000 $ 2,648,000 $ 8,220,000 $ 7,581,000
 Inc. Bef.
 Extraordinary
 Loss $ 3,012,000 $ 2,744,000 $12,698,000 $11,050,000
 Extraordinary Loss:
 Early
 Extinguishment
 of Debt $ -- $ -- $ (174,000) $ --
 Net Income $ 3,012,000 $ 2,744,000 $12,524,000 $11,050,000
 Per Share:
 Inc. Bef.
 Extraordinary
 Loss $ 0.71 $ 0.65 $ 2.99 $ 2.60
 Net Income $ 0.71 $ 0.65 $ 2.95 $ 2.60
 (1) 1992 data was restated in the fourth quarter of 1992 to reflect the adoption of Statement of Financial Accounting Standards No. 109.
 -0- 11/3/93
 /CONTACT: Debora Bingham of The Phoenix Resource Companies, 405-728-5100/
 (PHN)


CO: The Phoenix Resource Companies, Inc. ST: Oklahoma IN: OIL SU: ERN

SH -- NY069 -- 0192 11/03/93 13:32 EST
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Publication:PR Newswire
Date:Nov 3, 1993
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