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ALAMCO FILES REGISTRATION STATEMENT FOR PUBLIC COMMON STOCK OFFERING

 CLARKSBURG, W.Va., June 10 /PRNewswire/ -- Alamco, Inc. (AMEX: AXO) announced today that it filed with the Securities and Exchange Commission a registration statement to make an underwritten public offering of 2,000,000 newly issued shares of its common stock in July, 1993, subject to market conditions.
 There are currently 1,494,113 shares of Alamco's common stock and 1,033,596 shares of Class A common stock issued and outstanding. PNC Bank, National Association, the record holder of the Class A common stock, will also participate in the offering and sell 700,000 of its outstanding shares. Alamco intends to use the net proceeds from the offering to repay Alamco's existing bank debt (approximately $8.6 million) and to fund capital expenditures including accelerated development drilling and potential acquisitions.
 The Principal/Eppler, Guerin & Turner, Inc. will serve as managing underwriter of the offering. Any offering will be made only by means of a prospectus prepared in accordance with the Securities Act of 1933. Copies of the prospectus may be obtained from The Principal/Eppler, Guerin & Turner, Inc., 1445 Ross Ave., Suite 2300, Dallas, Texas, 75202.
 Alamco, headquartered in Clarksburg, is an independent producer of gas and oil in the Appalachian Basin with a major operating concentration in West Virginia gas fields. The company's stock is traded on the American Stock Exchange under the symbol AXO.
 A registration statement relating to these securities has been filed with the Securities and Exchange Commission, but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there by any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 -0- 6/10/93
 /CONTACT: Jane Merandi of Alamco, 1-800-873-2526/
 (AXO)


CO: Alamco, Inc. ST: West Virginia IN: OIL SU: OFR

KC-MC -- PG015 -- 0883 06/10/93 18:34 EST
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Publication:PR Newswire
Date:Jun 10, 1993
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