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BROCK EXPLORATION CORPORATION PRODUCTION VOLUMES INCREASE FOR THE QUARTER

 NEW ORLEANS, Oct. 29 /PRNewswire/ -- Brock Exploration Corporation (AMEX: BKE), headquartered in New Orleans, reported net income of $177,000 or $.05 per share on revenues of $3.1 million for the quarter ended Sept. 30.
 These results compare with net income of $242,000 or $.06 per share on revenues of $3.0 million for the quarter ended Sept. 30, 1992.
 For the six months ended Sept. 30 net income was $613,000 or $.16 per share on revenues of $5.9 million as compared to $413,000 or $.11 per share on revenues of $5.7 million. Included in the six months ended September 1993 is a $186,000 benefit from the cumulative effect of a change in method of accounting for income taxes. The change is the result of the adoption of Statement of Financial Accounting Standards No. 109 (Accounting for Income Taxes). Earnings before the effect of this change were $427,000 or $.11 per share.
 For the three months ended Sept. 30, oil and gas sales decreased by 4 percent to $2.550 million from $2.649 million when compared to the same quarter last year. Included in the quarter ended Sept. 30, 1992, was $634,000 received in the settlement of a take-or-pay claim with a pipeline company, thus ongoing oil and gas sales increased by 27 percent. The company had production gains of 52 percent for oil and 10 percent for gas. Gas prices increased by 20 percent while oil prices decreased by 16 percent. Oil production was 82,660 barrels compared to 54,371 barrels and gas production was 599,254 Mcf compared to 542,479 Mcf for the quarters ended Sept. 30, 1993 and 1992, respectively. For the same periods, gas prices per Mcf were $1.96 vs. $1.64 and oil prices were $16.64 vs. $19.71.
 The company's largest waterflood property, the Calumet Unit, is currently producing 275 barrels of oil per day net to the company. The company also completed the purchase of units of limited partnership interest in the partnerships for which it is the Managing General Partner in accordance with the offer of April 1993. The company has spent $1.8 million to acquire approximately 2.274 billion cubic feet of gas and 51,000 barrels of oil. These properties will generate approximately $65,000 a month in net operating revenue.
 BROCK EXPLORATION CORPORATION
 Financial Results
 (Unaudited)
 3 mos. ended Sept. 30 1993 1992 Pct.
 Oil and gas revenues $2,550,000 $2,649,000 (04)
 Total revenues $3,055,000 $3,020,000 01
 Net earnings before cumulative
 effect of acctg. change $ 177,000 $ 242,000 27
 Cumulative effect of change in
 acctg. method $ --- $ --- ---
 Net earnings $ 177,000 $ 242,000 (27)
 Earnings per common share:
 Before cumulative effect of
 acctg. change $ 0.05 $ 0.06 (17)
 Cum. effect of acctg. chg. $ 0.00 $ --- ---
 Net earnings per share $ 0.05 $ 0.06 (17)
 Average shares outstdng. 3,856,398 3,895,738
 6 mos. ended Sept. 30 1993 1992 Pct.
 Oil and gas revenues $5,199,000 $4,595,000 13
 Total revenues $5,908,000 $5,683,000 4
 Net earnings before cumulative
 effect of acctg. change $ 534,000 $ 413,000 29
 Cumulative effect of change in
 acctg. method $ 186,000 $ --- ---
 Net earnings $ 613,000 $ 413,000 48
 Earnings per common share:
 Before cumulative effect of
 acctg. change $ 0.11 $ 0.11 ---
 Cum. effect of acctg. chg. $ 0.05 $ --- ---
 Net earnings per share $ 0.16 $ 0.11 45
 Average shares outstdng. 3,856,398 3,905,218
 3 mos. ended 6 mos. ended
 (Unaudited) 9/30/93 9/30/92 Pct. 9/30/93 9/30/92 Pct.
 Production
 Oil (Bbls) 82,660 54,371 52 158,516 114,093 39
 Gas (Mcf) 599,254 542,479 10 1,217,770 1,218,683 08
 Average sales price
 Per Bbl $16.64 $19.71 (16) $16.82 $19.51 (14)
 Per Mcf $ 1.96 $ 1.64 20 $ 2.04 $ 1.51 35
 For a copy of the annual report or any quarterly reports, please contact the Stockholder Relations Department, Brock Exploration Corporation, 225 Baronne St., Suite 700, New Orleans, LA 70112-1707.
 -0- 10/29/93
 /CONTACT: Investor Relations Department of Brock Exploration, 504-586-1815/
 (BKE)


CO: Brock Exploration Corporation ST: Louisiana IN: OIL SU: ERN

BR-BN -- AT003 -- 8400 10/29/93 10:04 EDT
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Publication:PR Newswire
Date:Oct 29, 1993
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