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BP SELLS STAKE IN CANADIAN HUNTER JOINT VENTURE

 BP SELLS STAKE IN CANADIAN HUNTER JOINT VENTURE
 CLEVELAND, March 3 /PRNewswire/ -- BP Exploration announced today


that it had sold its stake in the Canadian Hunter Joint Venture in British Columbia to the Toronto-based group, Noranda Inc., which already owns Canadian Hunter Exploration Limited, the other partner in the venture.
 The stake comprises working interests of 50 percent in the Brassey oilfield together with its treatment plant and sales pipeline, an average 42 percent in several producing gas accumulations and half ownership of an associated gas processing plant and gas pipeline. It also includes 340,000 net acres of undeveloped land.
 BP Exploration's net share of production from the assets averaged 2,500 barrels of oil a day and 39 million cubic feet of gas in 1991.
 The company said it no longer regarded the Canadian Hunter Joint Venture interests as core to its business. Originally Standard Oil assets, they had since 1987, been managed as part of BP Exploration's US Lower 48 onshore oil and gas operations, which were sold last year.
 The sale price of the joint venture stake was not disclosed, but BP Exploration said it was not material relative to overall assets.
 -0- 3/3/92
 /CONTACT: Jim Marino of BP Exploration, 216-586-5505/ CO: BP Exploration ST: Ohio IN: OIL SU:


LC -- CL013 -- 4490 03/03/92 12:38 EST
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Publication:PR Newswire
Date:Mar 3, 1992
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