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BROOKLYN UNION AFFILIATE SELLS GAS PROPERTIES IN ALBERTA

 BROOKLYN, N.Y., Aug. 24 /PRNewswire/ -- Brooklyn Union Gas (NYSE: BU) announced today that Solex Energy Corporation, an affiliate of its gas exploration and production subsidiary, has entered into a definitive agreement with Co-enerco Resources Ltd. to sell certain gas properties in Alberta, Canada.
 The agreement includes the sale of producing properties and associated facilities, four gas plants and 59,000 net acres of undeveloped land. Solex operates all of the properties and has an average interest of 84 percent.
 The total consideration for the sale is $40 million (Canadian). Closing is scheduled for Sept. 22, 1993. Some of the properties are subject to rights of first refusal.
 Independent engineering consultants have established the proved reserves of natural gas to be approximately 78 billion cubic feet; proved and probable reserves are 100 billion cubic feet. The properties currently produce 10 million cubic feet of natural gas per day, with additional gas volumes scheduled to come on-stream early in 1994.
 Headquartered in Calgary, Solex develops existing wells to enhance production and constructs and operates plants that extract marketable gas liquids. Since 1992, Solex has operated under the aegis of Brooklyn Union's wholly owned exploration and production subsidiary, Fuel Resources Inc. While the sale of additional properties is anticipated, Solex will continue to maintain a strategic presence in producing regions of Western Canada.
 Brooklyn Union distributes natural gas to 1.1 million customers in the New York City boroughs of Brooklyn, Queens and Staten Island. Through subsidiary and affiliated companies, Brooklyn Union is involved in oil and gas exploration and production in the United States and Canada, as well as marketing, cogeneration projects, pipeline transportation, and propane distribution in the United States.
 -0- 8/24/93
 /CONTACT: Brooklyn Union Gas corporate communications, 718-403-2503/
 (BU)


CO: The Brooklyn Union Gas Company; Solex Energy Corporation;
 Co-enerco Resources Ltd. ST: New York, Alberta IN: OIL SU:


TS-PS -- NY007 -- 5327 08/24/93 09:01 EDT
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Publication:PR Newswire
Date:Aug 24, 1993
Words:320
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