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ENEX RESOURCES CORPORATION REPORTS RECEIPT OF $1.5 MILLION SETTLEMENT

 ENEX RESOURCES CORPORATION REPORTS RECEIPT OF $1.5 MILLION SETTLEMENT
 KINGWOOD, Texas, Aug. 31 /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 it will receive $1.5 million from the resolution of a disputed claim. The settlement increases working capital and book value by $1.24 per common share. Book value now exceeds $11.00 per share which is more than twice the current market price.
 Gerald B. Eckley, president of Enex stated, "We are pleased to announce this favorable settlement. The proceeds will be used to retire debt and to purchase producing oil and gas properties for the company. This settlement continues our successful record of building value for our shareholders."
 -0- 8/31/92
 /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:


TS -- NY036 -- 4898 08/31/92 10:57 EDT
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Publication:PR Newswire
Date:Aug 31, 1992
Words:167
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