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EASTEX ANNOUNCES REGISTRATION STATEMENT FOR UNDERWRITTEN PUBLIC OFFERING

 HOUSTON, June 15 /PRNewswire/ -- Eastex Energy Inc. (NASDAQ-NMS: ETEX) ("Eastex" or the "company") announced today that it has filed a registration statement with the Securities and Exchange Commission relating to the proposed public offering of 2,200,000 shares of common stock. Of the shares being offered, 1,700,000 are to be issued by the company and 500,000 by certain selling stockholders. A preliminary prospectus relating to these securities may be obtained from Mabon Securities Corp., which will act as managing underwriter, at One Liberty Plaza, 165 Broadway, New York, NY 10006, 212-732-2820. With the filing, the company will recommence the offering it postponed in February.
 Eastex expects to use the net proceeds of the offering principally to finance the growth of the company's natural gas merchant business, which may include the retirement of $4.5 million in debt incurred in connection with the company's recent acquisition of Heath Petra Resources, Inc., and affiliates, and for the acquisition of other complementary natural gas merchant operations and the acquisition or development of strategically located gathering, processing, pipeline and storage facilities.
 A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This announcement shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 Eastex Energy Inc., through its subsidiaries, is a natural gas merchant specializing in the purchase, gathering, transportation, storage and sale of natural gas on a nationwide basis.
 -0- 6/15/93
 /CONTACT: Bradley K. Alford, vice president-finance of Eastex Energy Inc., 713-650-6255/
 (ETEX)


CO: Eastex Energy Inc. ST: Texas IN: OIL SU: OFR

TM -- NY102 -- 2321 06/15/93 16:40 EDT
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Publication:PR Newswire
Date:Jun 15, 1993
Words:339
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