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EDISTO ANNOUNCES ADDITIONAL MANAGEMENT CHANGES

 DALLAS, July 7 /PRNewswire/ -- Edisto Resources Corporation (ASE: EDS) today announced that David N. Broussard, its President and Chief Operating Officer, submitted his resignation to the Board of Directors on Friday, July 2. Broussard's resignation was preceded on July 1, by that of James R. McNab Jr., Chairman and Chief Executive Officer. Both resignations were immediately effective.
 On Friday, Edisto's Board of Directors announced that it had selected Michael Y. McGovern, President and Chief Executive Officer of American National Petroleum Company (NASDAQ: ANPC), to succeed McNab as Edisto's new Chairman and CEO. American National Petroleum, a Houston- based oil and gas exploration and production company and a marketer of natural gas, is scheduled to be sold to Patrick Petroleum Company of Jackson, Michigan on July 29. In announcing its selection, the Board said "McGovern has been chosen to head the newly-reorganized Edisto because of his prior experience in managing the operations of public oil & gas companies and for his ability in achieving operating efficiencies and enhancing values of corporate assets in a post-bankruptcy environment.
 In a meeting with Edisto's employees on Friday, McGovern said that he intends to review with management the business plans for each of Edisto's business segments to evaluate the direction of the Company. He also said that in developing a definitive plan, he would be drawing on the knowledge of the Company's newly-appointed directors who have vast experience in the Company's principal lines of business.
 In addition to McGovern, members of Edisto's new Board of Directors are: Vernon T. Jones of Tulsa Oklahoma, who formerly served as Vice Chairman of the Williams Companies, President of Williams Pipeline Company and President and Chief Operating Officer of the Williams Companies; Joseph E. Reid, of Houston, Texas, an oil and gas consultant who formerly held the positions of President and Chief Executive Officer of Meridien Oil Company and Superior Oil Company, and served as both a director and officer of Panhandle Eastern Pipeline Company, all of Houston, Texas; John G. Graham, presently Senior Vice President and Chief Financial Officer of General Public Utilities Corporation of Parsippany, New Jersey; and Timothy Andrews, of Los Angeles, California, a Vice President of Trust Company of the West, the largest stockholder of the Company.
 Edisto Resources Corporation's consolidated activities include the production of oil and gas, the exploration and development of oil and gas reserves and natural gas marketing and transportation.
 -0- 7/7/93
 /CONTACT: Gary L. Pittman, vice president-financial services, Edisto Resources, 214-880-0243/
 (EDS)


CO: Eedisto Resources Corporation ST: Texas IN: OIL SU: PER

LG -- NY021 -- 8990 07/07/93 10:08 EDT
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Publication:PR Newswire
Date:Jul 7, 1993
Words:432
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