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ENEX RESOURCES CORPORATION REPORTS FINANCIAL RESULTS FOR SECOND QUARTER AND SIX MONTHS OF 1993

 KINGWOOD, Texas, July 22 /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 financial results for the second quarter and six months ended June 30, 1993.
 Net income for the second quarter was $286,535 or $.21 per share on total revenues of $1,606,788. This compares with net income of $229,859 or $.16 per share on total revenues of $1,564,726 for the same period of 1992.
 For the first six months of 1993, net income was $548,869 or $.41 per share on total revenues of $3,073,718. Net income for the first six months of 1992 was $457,605 or $.32 per share on total revenues of $2,870,402. On a per share basis this represents a 28 percent increase over the first six months of 1992.
 Gerald B. Eckley, president of Enex stated, "Earnings continue to improve. We are on target to meet our earnings estimate for 1993 of $.84 per share -- a 20 percent increase over 1992. We have seen some firming of gas prices in the last few months and we expect this trend to continue during the last half of 1993. We are actively seeking producing oil and gas properties to replace production and enhance operating results for our shareholders."
 -0- 7/22/93
 /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: ERN

TS -- NY042 -- 4460 07/22/93 10:55 EDT
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Publication:PR Newswire
Date:Jul 22, 1993
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