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CODA ENERGY ANNOUNCES FINANCIAL RESULTS

 CODA ENERGY ANNOUNCES FINANCIAL RESULTS
 DALLAS, Nov. 6 /PRNewswire/ -- Coda Energy, Inc. (NASDAQ-NMS: CODA)


announced a loss of $229,000 ($.03 per share) from continuing operations for the third quarter of 1992 compared to earnings of $545,000 ($.06 per share) for the same period of 1991. Revenues were $5.4 million vs. $6.2 million a year ago, while cash flow was $924,000 in 1992 and $1,911,000 in 1991. For the first nine months of 1992, Coda recorded a loss of $41,000 ($.00 per share) but reported cash flow of $3.5 million on revenues of $16.3 million. For the nine months ended September 1991, net income was $152,000 ($.02 per share) and cash flow was $4.1 million on revenues of $13.9 million.
 Production for the third quarter of 1992 was 150,962 barrels of oil and 702,305 mcf of gas, and for the first nine months of 1992, 466,870 barrels of oil and 2,297,737 mcf of gas. This compares to last year's figures for the third quarter of 169,035 barrels of oil and 1,094,940 mcf of gas, and for the nine months of 304,613 barrels of oil and 3,290,955 mcf of gas.
 Doug Miller, Coda's chairman, stated that "the company experienced several one time production delays during the quarter which affected earnings. Coda's McElroy production was down for two months while waterflood operations were put in place; two significant Oklahoma gas wells were severely curtailed during the second and third quarters due to overproduction resulting from an allowable change; and, a large north Texas facility was down for repairs for one month."
 Coda Energy, Inc. is an oil and gas acquisition, development and production company headquartered in Dallas, Texas with principal operations in Texas, Colorado and Oklahoma. The company's stock is traded on the NASDAQ National Market System under the symbol CODA.
 Additional information about Coda Energy, Inc. may be obtained by contacting the company's chairman, Doug Miller, at Coda's headquarters, 9400 N. Central Expressway, Lock Box 187, Dallas, Texas 75231, telephone number 214-692-1800.
 CODA ENERGY AND SUBSIDIARIES
 (Consolidated statements of operations, unaudited)
 (In thousands, except per share amounts)
 Periods ended Three Months Nine Months
 Sept. 30 1992 1991 1992 1991
 REVENUES:
 Oil and gas sales $3,915 $4,833 $12,063 $10,186
 Gas marketing and
 plant sales 1,577 1,236 4,233 3,318
 Other income (loss) (135) 92 (14) 439
 Total 5,357 6,161 16,282 13,943
 COSTS AND EXPENSES:
 Oil and gas production 2,070 2,105 6,006 4,471
 Gas marketing and plant
 purchases 1,529 1,163 4,000 3,171
 Depletion, depreciation
 and amortization 1,070 1,276 3,401 3,270
 General and administrative 642 446 1,761 1,477
 Interest 372 548 1,155 1,324
 Total 5,683 5,538 16,323 13,713
 INCOME (LOSS) BEFORE
 INCOME TAXES (326) 623 (41) 230
 INCOME TAX EXPENSE
 (BENEFIT) (97) 78 0 78
 Net income (LOSS) ($229) $545 ($41) $152
 NET INCOME (LOSS) PER
 COMMON AND COMMON
 EQUIVALENT SHARE ($0.03) $0.06 $0.00 $0.02
 WEIGHTED AVERAGE NUMBER
 OF COMMON AND COMMON
 EQUIVALENT SHARES
 OUTSTANDING 8,624 8,540 8,618 8,692
 -0- 11/6/92
 /CONTACT: Douglas H. Miller or T.W. Eubank of Coda Energy, Inc., 214-692-1800/
 (CODA) CO: Coda Energy, Inc. ST: Texas IN: OIL SU: ERN


WB -- NY019 -- 8128 11/06/92 10:58 EST
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Date:Nov 6, 1992
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