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TOTAL PETROLEUM (NORTH AMERICA) LTD. ANNOUNCES FIRST QUARTER RESULTS

 TOTAL PETROLEUM (NORTH AMERICA) LTD.
 ANNOUNCES FIRST QUARTER RESULTS
 DENVER, April 23 /PRNewswire/ -- Total Petroleum (North America) Ltd. announced results for the first quarter ended March 31, 1992.
 For the first quarter ended March 31, 1992, the net loss was $17.4 million or $0.48 per share compared to a loss of $13.3 million or $0.48 per share for the first quarter of 1991.
 The net loss per share in both periods is after payment of preferred dividends.
 Commenting on the results, Philippe Dunoyer, chairman of the board and chief executive officer said: "The first quarter weakness in refining margins was more pronounced than a year ago but margins currently are experiencing their seasonal recovery."
 Total Petroleum (North America) Ltd. is a petroleum company with refining and marketing operations in the Central United States. Its shares are listed on the American, Toronto, Montreal and Pacific stock exchanges. TOTAL, a French company, owns approximately 53 percent of the voting shares of Total Petroleum (North America) Ltd.
 TOTAL PETROLEUM (NORTH AMERICA) LTD.
 (Dollars in millions except per share data)
 Three months ended March 31: 1992 1991
 Revenues $527.6 $588.4
 Cash flow from continuing
 operations before changes in
 working capital components $(10.1) $(1.2)
 Income (loss) from continuing
 operations $(17.4) $(13.3)
 Net income (loss) $(17.4) $(10.7)
 Net income (loss) per share:
 Continuing operations $(0.48) $(0.48)
 Net income (loss) $(0.48) $(0.40)
 The net loss per share in both periods is after payment of preferred dividends.
 -0- 4/23/92
 /CONTACT: Gilbert Kiggins of Total Petroleum (North America), 212-482-8460/
 (TPN) CO: Total Petroleum (North America) Ltd. ST: Colorado IN: OIL SU: ERN


SM-HM -- NY034 -- 1747 04/23/92 10:13 EDT
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Publication:PR Newswire
Date:Apr 23, 1992
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