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ENCOR INC. ANNOUNCES REVISED PROPOSAL FROM TALISMAN

 CALGARY, Alberta, May 19 /PRNewswire/ -- Encor Inc. announced today that it has received a revised proposal from Talisman Energy Inc. to acquire all of the outstanding shares of Encor. The new proposal provides that Encor common shareholders would receive one common share of Talisman for 30 common shares of Encor, compared to one Talisman common share for 45 Encor common shares under the previous proposal. The improved exchange ratio will also apply to the conversion privilege of the 8.50 percent convertible debentures.
 The revised proposal would result in an increase of 1,774,288 Talisman shares to be received by Encor common shareholders. This increase is comprised of 600,000 new shares from Talisman and 1,174,288 shares previously allocated to BCE Inc. in consideration for its preferred shares of Encor. As a result of the adjustment, BCE would receive as holder of the outstanding convertible preferred shares of Encor 9,887,105 Talisman common shares. Encor common shareholders would receive 5,322,865 Talisman common shares.
 The company has been advised that a number of institutional holders of Encor common shares, who claim to represent an aggregate of approximately 60 million common shares of Encor, intend to support the new proposal.
 The Encor Special Committee and its financial advisor have reviewed the revised proposal and the Committee recommended its approval to the board. Subsequently, the board of directors of Encor unanimously recommended to the common shareholders that they vote in favor of the revised proposal at the annual and special meeting of shareholders to be held on May 20, 1993. The proposal continues to be structured as a plan of arrangement subject to the approval of the Court of Queen's Bench of Alberta.
 -0- 5/19/93
 /CONTACT: E. Susan Evans, VP, Law and Corporate Affairs, 403-231-6066, or Kevin I. Drader, manager, Corporate Planning, 403-231-6046, both of Encor/
 (ECR.)


CO: Encor Inc.; Talisman Energy Inc. ST: Alberta IN: OIL SU: TNM

MS-JB -- LA026 -- 0373 05/19/93 14:49 EDT
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Publication:PR Newswire
Date:May 19, 1993
Words:333
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