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ASHLAND OIL, INC. COMPLETES ACQUISITION OF THE PERMIAN CORPORATION

 ASHLAND OIL, INC. COMPLETES ACQUISITION
 OF THE PERMIAN CORPORATION
 ASHLAND, Ky., Jan. 22 /PRNewswire/ -- Ashland Oil, Inc. (NYSE: ASH) announced that it has been advised by National Intergroup, Inc. (NII) that NII has completed its sale of the 2.2 million shares of Ashland Common Stock issued to NII in connection with Ashland's acquisition of The Permian Corporation and related entities.
 A Registration Statement filed by Ashland covering such sales became effective in June 1991. Scurlock Permian is a subsidiary of Ashland Petroleum Company, which is the largest operating division of Ashland Oil, Inc. Scurlock Permian is engaged in crude oil transportation, trading and marketing from the Rocky Mountains through the Gulf Coast.
 The company has access to more than 41,000 crude oil producing leases and is capable of gathering more than 400,000 barrels of crude oil daily through a system of more than 4,100 miles of active pipelines, numerous storage terminals and a fleet of 675 trucks. Ashland Oil, Inc. is a diversified energy corporation engaged in petroleum refining, transportation, and marketing; retail gasoline marketing; motor oil marketing; chemicals; coal; highway construction; and oil and gas exploration and production.
 -0- 1/22/92
 /CONTACT: Bill Hartl, Investor Relations, New York, 212-421-1250, or Tom Dalesio, Media Relations, Ashland, Ky., 606-329-3445, both of Ashland Oil/
 (ASH) (NII) CO: Ashland Oil, Inc.; The Permian Corporation ST: Kentucky IN: OIL SU: TNM


JT -- PG004 -- 2110 01/22/92 09:19 EST
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Publication:PR Newswire
Date:Jan 22, 1992
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