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ENERCORP REPORTS FISCAL YEAR-END RESULTS

 WEST BLOOMFIELD, Mich., Oct. 20 /PRNewswire/ -- Enercorp, Inc. (OTC Bulletin Board: ENEI) today announced its audited financial results for the year ended June 30, 1993. The company's total assets at June 30, 1993, were $2,722,198, a gain of 122.4 percent over the total assets reported on June 30, 1992, of $1,224,047. The net asset value at year-end 1993 was $2,021,694, an increase of 140.3 percent over the $841,238 reported at year-end 1992. Net asset value per share at year- end 1993 was $.046 on 44,317,265 shares vs. $.019 on 44,017,265 shares at year-end 1992.
 The company's net assets increased $1,177,758 or $.03 per share for the year ended June 30, 1993, as compared to a decrease in net assets of $364,716 or $.01 per share for the year ended in 1992. The company posted a net unrealized gain on investments of $1,351,078 for the 1993 year-end as compared to an unrealized loss of $204,663 for the same period in 1992.
 Enercorp, Inc. is a business development company under the Investment Company Act of 1940, as amended. The company's new headquarters location is 7001 Orchard Lake, Suite 420D, West Bloomfield, MI 48322.
 -0- 10/20/93
 /CONTACT: Robert R. Hebard, president of Enercorp, Inc., 313-851-5651/
 (ENEI)


CO: Enercorp, Inc. ST: Michigan IN: SU: ERN

JG -- DE018 -- 4527 10/20/93 11:31 EDT
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Publication:PR Newswire
Date:Oct 20, 1993
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