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ENEX RESOURCES CORPORATION REPORTS INCREASED OIL AND GAS RESERVES

    ENEX RESOURCES CORPORATION REPORTS INCREASED OIL AND GAS RESERVES
    KINGWOOD, Texas, March 16 /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 significant increases in its oil and gas reserves.
    --  Total proved reserves increased 87 percent to 2.13 million barrels of oil equivalent (BOE) at the end of 1991, compared with 1.14 million barrels for the previous year.
    --  Proved gas reserves more than doubled to 8.3 billion cubic feet from 4.1 billion cubic feet in 1990.
    --  Proved reserves of oil, condensate and plant liquids rose by 64 percent to 753,000 barrels.
    Gerald B. Eckley, president of Enex stated, "Through acquisitions and property development we replaced over 368 percent of our current year's production.  The value of owning proved oil and gas reserves, which is significant today, will be magnified in the future when oil prices have risen by more than 50 percent and gas prices have tripled."
    -0-                  3/16/92
    /CONTACT:  Robert E. Densford, vice president, secretary and treasurer of Enex Resources, 713-358-8401/
    (ENEX) CO:  Enex Resources Corporation ST:  Texas IN:  OIL SU: SM -- NY011 -- 8273 03/16/92 11:25 EST
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Publication:PR Newswire
Date:Mar 16, 1992
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