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ENEX RESOURCES CORPORATION REPORTS $2.0 MILLION TAKE-OR-PAY SETTLEMENT

 KINGWOOD, Texas, Dec. 15 /PRNewswire/ -- Enex Resources Corporation (NASDAQ: ENEX), a company which acquires and manages producing oil and gas properties and markets oil and gas income programs, today reported that one of its managed limited partnerships, Enex Program I Partners, L.P. (Program I) will receive $2.0 million from the settlement of a take-or-pay lawsuit. A definitive settlement agreement, which was negotiated by Enex Resources Corporation on behalf of the partners in Program I, has been signed by all parties and will be funded on Dec. 17, 1992.
 Gerald B. Eckley, president of Enex stated, "We are pleased to announce this favorable settlement. The proceeds will be used to retire debt for Program I, and is part of our ongoing commitment to maximize the returns to our limited partners."
 -0- 12/15/92
 /CONTACT: Robert E. Densford, vice president, secretary and treasurer of Enex Resources Corporation, 713-358-8401/
 (ENEX)


CO: Enex Resources Corporation ST: Texas IN: OIL SU:

SM -- NY026 -- 7132 12/15/92 11:04 EST
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Publication:PR Newswire
Date:Dec 15, 1992
Words:168
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