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THE PHOENIX RESOURCE COMPANIES, INC. REPORTS FINANCIAL RESULTS

 OKLAHOMA CITY, May 4 /PRNewswire/ -- The Phoenix Resource Companies, Inc. (AMEX, PSE: PHN) reported today earnings of $2.7 million, or $0.64 per common share, for the quarter ended March 31, 1993 on revenues of $8.2 million. For the same period in 1992 the company reported earnings of $2.3 million, or $0.55 per common share, on revenues of $7.7 million.
 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.
 THE PHOENIX RESOURCE COMPANIES, INC.,
 (Unaudited)
 Three months ended March 31 1993 1992
 Revenues(A) $8,227,000 $7,714,000
 Costs and expenses $2,944,000 $3,107,000
 Provision for income taxes(A) $2,569,000 $2,284,000
 Net income $2,714,000 $2,323,000
 Net income per share(B) $ 0.64 $ 0.55
 (A) -- 1992 data was restated in the fourth quarter of 1992 to reflect the adoption of Statement of Financial Accounting Standards No. 109.
 (B) -- 1992 data has been restated to reflect the one-for-ten reverse split effected in May 1992.
 -0- 5/4/93
 /CONTACT: Cheryl Rich of The Phoenix Resource Companies, Inc., 405-728-5100/
 (PHN)


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

TS -- NY050 -- 4309 05/04/93 12:05 EDT
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Publication:PR Newswire
Date:May 4, 1993
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