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BELLWETHER ANNOUNCES RESULTS FOR ITS FIRST QUARTER ENDED SEPT. 30, 1991

BELLWETHER ANNOUNCES RESULTS FOR ITS FIRST QUARTER ENDED SEPT. 30, 1991
 HOUSTON, Nov. 22 /PRNewswire/ -- Bellwether Exploration Company (NASDAQ: BELW) has reported net earnings of $103,323 or $0.01 per share for its first fiscal quarter ended Sept. 30, 1991, compared to net earnings of $186,876 or $0.01 per share for the same quarter last fiscal year. Revenues were $697,336 for the quarter ended Sept. 30, 1991, up from $693,336 for the quarter ended Sept. 30, 1990.
 A 54 percent increase in natural gas volumes sold was offset by 16 percent and 10 percent decreases in the company's average sales prices of oil and natural gas, respectively. Gas sales from the Ledet No. 4, Melodia Field, Lafourche Parish, Louisiana and from a well in Arkansas in which the company's interest was overproduced during the prior year's quarter were primarily responsible for the increased natural gas sales volumes. The decrease in net income was caused by increased depletion, depreciation and amortization expenses which resulted from the increased sales volumes and increased general and administrative expenses which resulted from lower operators overhead income credits. Bellwether Exploration Company is engaged in oil and gas exploration and development, and the acquisition of producing properties in the United States.
 -0- 11/22/91
 /CONTACT: J. Darby Sere, president of Bellwether Exploration Company, 713-753-1420/
 (BELW) CO: Bellwether Exploration Company ST: Texas IN: OIL SU: ERN


KD -- NY061 -- 6478 11/22/91 15:28 EST
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Publication:PR Newswire
Date:Nov 22, 1991
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