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EQUITQBLE RESOURCES ANNOUNCES OIL VENTURE IN COLOMBIA

 EQUITQBLE RESOURCES ANNOUNCES OIL VENTURE IN COLOMBIA
 PITTSBURGH, Feb. 3 /PRNewswire/ -- Equitable Resources, Inc. (NYSE: EQT) announced today that its Energy Resources segment has entered into a venture to explore for oil on three new acreage blocks in Colombia, with two other companies.
 The blocks comprise approximately 750,000 acres and are known as the Algarrobo, Cano Guirripo, and Cano Caranal Association Contract Areas in the northeast Llanos section of Colombia.
 The venture's exploration work during the first year is to consist of an extensive seismic program. Depending on the results, drilling of exploratory test wells on each block is planned for the second year.
 Equitable's participation in the venture will range from 25 to 30 percent and will be carried out through its Colombian subsidiary, Andex Energy, Inc. Other participants in the venture are Heritage Exploration and Production Company, Inc., a Houston- based independent producer who will be the operator, and Santos Colombia Exploration Inc., a subsidiary of Santos, Ltd., an Australian company.
 Equitable Resources, a diversified energy resource and utility services company, is a major producer of oil and gas in the Appalachian Basin and the Rocky Mountain region, and is also engaged in active exploration in the Gulf of Mexico.
 -0- 2/4/92
 /CONTACT: Brian Plante of Equitable Resources, 412-553-5911/
 (EQT) CO: Equitable Resources, Inc. ST: Pennsylnavia IN: OIL SU:


CD -- PG009 -- 6147 02/03/92 11:43 EST
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Publication:PR Newswire
Date:Feb 3, 1992
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