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ENDEVCO SIGNS LETTER OF INTENT WITH TEXAS EASTERN

 ENDEVCO SIGNS LETTER OF INTENT WITH TEXAS EASTERN
 DALLAS, Aug. 10 /PRNewswire/ -- Endevco, Inc. (AMEX: EI) announced


today that it has signed a letter of intent with Texas Eastern Transmission Corporation (TETCO), a subsidiary of Panhandle Eastern Corporation, for TETCO to lease 250 million cubic feet per day of capacity in a 500 million cubic feet per day natural gas pipeline proposed to be constructed from Shaw to Kosciusko, Miss. The proposed 82-mile, 30 inch diameter pipeline would connect with Arkla Energy Resources' planned Line AC extension (Line ACE) near Shaw and terminate at TETCO's Kosciusko compressor station. The letter of intent stipulates that Endevco and other mutually agreeable parties will construct, own and operate the pipeline, which is expected to be project financed.
 This pipeline will provide Endevco and TETCO access to Mid-Continent gas supplies in the Arkoma and Anadarko Basins. The term of the lease agreement will be 15 years from the date Line ACE is placed in service after which TETCO would own a prorata share of the pipeline. TETCO also has first rights to capacity created by any future expansions of the proposed pipeline.
 Subject to various approvals outlined by the letter of intent, the project is also subject to approvals by certain regulatory agencies and the execution of definitive agreements.
 Endevco is a gas transportation and processing company. Our gas transportation segment includes gathering, transmission, marketing and storage of natural gas. Our processing segment includes gas liquids recovery, gas treating and petroleum refining.
 Panhandle Eastern Corporation operates one of the nation's largest interstate natural gas pipeline systems that provides natural gas to the Midwest and Northeast markets.
 -0- 8/10/92
 /CONTACT: James W. Bryant, chairman of the board, or Kelcy L. Warren, president of Endevco, 214-691-5536, or John Barnett of Texas Eastern Transmission, 713-627-4072/
 (EI PEL) CO: Endevco, Inc.; Texas Eastern Transmission Corporation ST: Texas IN: OIL SU:


SM -- NY057 -- 8546 08/10/92 13:26 EDT
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Publication:PR Newswire
Date:Aug 10, 1992
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