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UNITED MERIDIAN CORPORATION ANNOUNCES ITS INITIAL PUBLIC OFFERING

 HOUSTON, July 28 /PRNewswire/ -- United Meridian Corporation announced today it had reached final agreement with its underwriters on Thursday, July 22, 1993 for the initial public offering of 7,900,000 shares of its common stock at $17 per share. Total gross proceeds from the offering will therefore be approximately $134 million. The company's common stock commenced trading on the New York Stock Exchange on Friday, July 23, 1993.
 Of the shares being sold, 4,400,000 are being sold by the company and 3,500,000 are being sold by Selling Stockholders. Merrill Lynch & Company, Goldman, Sachs & Co. and Howard, Weil, Labouisse, Friedrichs Incorporated managed the offering.
 The company is an independent oil and gas company engaged in the acquisition, exploitation, development and exploration of oil and natural gas properties. The company's North American oil and natural gas activities are concentrated in major producing regions along the Gulf Coast, in the Mid-Continent, Appalachian and North Montana regions of the United States, and in Alberta and Saskatchewan, Canada. The company is also currently pursuing selected offshore international exploration opportunities in the Cote d'Ivoire (Ivory Coast) and Equatorial Guinea in Western Africa.
 -0- 7/28/93
 /CONTACT: Jonathan M. Clarkson, senior vice president and CFO of United Meridian Corporation, 713-654-9110/


CO: United Meridian Corporation ST: Texas IN: OIL SU: OFR

MP -- NY059 -- 7284 07/28/93 11:57 EDT
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Publication:PR Newswire
Date:Jul 28, 1993
Words:228
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