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ENVIROMINT FILES A NOTICE OF INTENT

 DALLAS, March 25 /PRNewswire/ -- EnvirOmint Holdings Inc. (OTC Bulletin Board: ENVM) announced today it has filed a 13(d) with the Securities and Exchange Commission expressing its intention to offer $32 million for 100 percent of the issued and outstanding shares of The Home-Stake Oil & Gas Co. ("Oil&Gas") and The Home-Stake Royalty Corp. ("Royalty"), collectively known as "Home-Stake." EnvirOmint will only make such offer after it has completed all necessary federal and state securities filings.
 EnvirOmint currently owns 20,330 shares, or approximately 23 percent, of the 89,509 issued and outstanding shares of Oil&Gas, and Royalty currently owns 28,640 shares, or approximately 32 percent, of Oil&Gas. The balance of 40,280 shares are held by shareholders other than EnvirOmint and Royalty. The intended offer price to the Oil&Gas shareholders will be $147.85 per share.
 Envii?nt currently owns 12,313 shares, or approximately 18 percent, of the 69,808 issued and outstanding shares of Royalty, and Oil&Gas currently owns 11,687, or approximately 17 percent, of Royalty. The balance of 45,098 shares are held by shareholders other than EnvirOmint and Oil&Gas. The intended offer price to the Royalty shareholders will be $268.82 per share.
 The approximate $18 million required to finance the intended offer is being provided by International Insurance Industries Inc. to a new corporation to be owned 35 percent by EnvirOmint and 65 percent by International Insurance.
 Although EnvirOmint and Home-Stake have been in on-going litigation for two years, the intended offer will be termed by EnvirOmint as "friendly" and will be subject to the approval of the board of directors of Home-Stake.
 In a recent announcement, however, EnvirOmint reported that if it is successful in acquiring an additional 23,000 shares ($6,182,860 at the planned offer price), or approximately 32 percent of Royalty, it would have effectively acquired control of both of the Home-Stake companies.
 In addition to its interest in Home-Stake, EnvirOmint also designs, builds and operates the EnvirOmint Can-Pactor, a patented reverse vending machine which crushes aluminum cans and dispenses cash along with a manufacturer's or merchant's discount coupon. EvirOmint, through a subsidiary, also is engaged in the business of constructing and operating Texaco Express Lube Centers in the Dallas/Ft. Worth, Texas area.
 -0- 3/25/93
 /CONTACT: Fran Daniels of Financial Sciences of America, 310-278-4413, for EnvirOmint Holdings/
 (ENVM)


CO: EnvirOmint Holdings Inc.; The Home-Stake Oil & Gas Co.; The
 Home-Stake Royalty Corp. ST: Texas IN: ENV OIL SU: TNM


LS-JB -- LA026 -- 9750 03/25/93 16:05 EST
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Publication:PR Newswire
Date:Mar 25, 1993
Words:428
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