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/C O R R E C T I O N -- ENVIROMINT HOLDINGS/

 In LA025, "EnvirOmint Holdings Receives Tender Offer for its Stakes in Home-Stake Oil & Gas and Home-Stake Royalty," moved Wednesday, Dec. 16, we are advised by a representative of the company of changes to the news release. The corrected version follows.
 ENVIROMINT HOLDINGS RECEIVES TENDER OFFER FOR ITS STAKES
 IN HOME-STAKE OIL & GAS AND HOME-STAKE ROYALTY
 DALLAS, Dec. 16 /PRNewswire/ -- EnvirOmint Holdings Inc. (OTC Bulletin Board: ENVM) announced today it has received offers from The Home-Stake Oil & Gas Co. and The Home-Stake Royalty Corp. located in Tulsa, Okla., to purchase portions of the stakes held by the company. The offer is part of a tender by each of The Home-Stake Companies to the shareholders of the other.
 EnvirOmint Holdings holds a 23.3 percent interest in Home-Stake Oil & Gas and an 18.2 percent interest in Home-Stake Royalty Corp. which it acquired in April 1991 in exchange for its common shares. The offer, valuing the companies at $24 million on the basis of the respective offer price and the number of shares outstanding, is being made to all stockholders of record as of Nov. 30, 1992, and has an expiration date of Jan. 27, 1993. Home-Stake Royalty currently owns approximately 21 percent of Home-Stake Oil & Gas and Home-Stake Oil & Gas currently owns 10 percent of Home-Stake Royalty.
 Management is undecided as to whether it will respond to these offers with the sale of portions of its stock or whether it will continue to hold its positions in both companies. In August of 1992, a higher offer for the shares of both companies made by outside interests was rejected by the management of both Home-Stake Oil & Gas and Home-Stake Royalty.
 Charles S. Christopher, ENVM's chairman and chief executive officer, stated that "We will carefully evaluate these offers to determine their values to the shareholders of our company. Substantial resources have been spent by ENVM to maintain these positions, and we must examine the rights we have as large shareholders." The company further indicated that if the offer to purchase the designated shares by each of the companies was successful and ENVM did not sell any portion of its interests, that the net result would be significantly increased indirect ownership in each of the companies by ENVM.
 Through a wholly owned subsidiary, EnvirOmint America Inc., ENVM also designs, builds and operates the EnvirOmint Can-Pactor, a patented reverse vending machine which crushes aluminum cans and dispenses cash along with a manufacturer's or merchant's discount coupon. ENVM has a total of 24 Can-Pactors installed in major supermarkets throughout the greater Denver area.
 -0- 12/18/92
 /CONTACT: Fran Daniels of Financial Sciences of America, 310-278-4413, for EnvirOmint Holdings/
 (ENVM)


CO: EnvirOmint Holdings Inc.; The Home-Stake Oil & Gas Co.;
 The Home-Stake Royalty Corp. ST: Texas, Oklahoma IN: OIL SU:


JL-LS -- LA027 -- 8407 12/18/92 16:48 EST
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Publication:PR Newswire
Date:Dec 18, 1992
Words:472
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