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ARKLA EXPLORATION APPROVES EXCHANGE OFFER

 ARKLA EXPLORATION APPROVES EXCHANGE OFFER
 SHREVEPORT, La., Dec. 5 /PRNewswire/ -- Arkla Exploration Company


(NYSE: ARK) announced today that the special committee of its board of directors, which was formed to consider a previously proposed exchange offer by Arkla, Inc. (NYSE: ALG), has concluded that Arkla's proposal to exchange .95 shares of Arkla common stock for each share of ARK common stock not owned by Arkla is fair to and in the best interest of ARK public stockholders.
 The ARK board of directors has adopted the determination of its special committee and recommends that stockholders tender their shares pursuant to the Arkla offer.
 After its formation, the special committee engaged the investment banking firm of Wertheim Schroder & Co. Incorporated to assist the special committee in its consideration of Arkla's offer. Wertheim Schroder has advised the special committee that the Arkla offer is fair from a financial point of view, to ARK's public stockholders.
 In reaching its conclusions, the special committee considered the opinion of Wertheim Schroder and various other factors which are described in a Schedule 14D-9 being filed today with the Securities and Exchange Commission and mailed to ARK stockholders.
 The Arkla offer is subject to certain conditions, including the requirement (which Arkla has indicated may not be waived) that a majority of the ARK shares must be tendered in order for the Arkla offer to be consummated.
 Arkla, which owns approximately 82 percent of ARK's outstanding shares, commenced the exchange offer for ARK shares on Dec. 5, 1991. The offer is currently scheduled to expire on Jan. 6, 1992.
 -0- 12/5/91
 /CONTACT: Elvis Thornton, treasurer, 318-429-2909, or Lou Resweber, 713-623-5033, both of Arkla Exploration/
 (ARK ALG) CO: Arkla Exploration Company; Arkla, Inc. ST: Louisiana, Texas IN: OIL SU: OFR


JT -- NY108 -- 9916 12/05/91 18:42 EST
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Publication:PR Newswire
Date:Dec 5, 1991
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