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FIRST QUARTER LOSS FOR CANADA SOUTHERN

 CALGARY, Alberta, Nov. 15 /PRNewswire/ -- Canada Southern Petroleum Ltd. (Toronto & Pacific: CSW) today reported a net loss of $215,000, or two cents a share, on gross revenues of $429,000 in its fiscal first quarter ended Sept. 30.
 In the corresponding period last year, there was a net loss of $29,000 (less than one cent a share) on gross revenues of $492,000, the company said.
 Charles J. Horne, president, said this year's first quarter operating revenues were down 13 percent -- due largely to reduce production and income from carried-interest properties -- with lease operating costs up 17 percent. He noted, however, that the ongoing litigation over the Kotaneelee field continued to be a drain on the company's resources, and contributed significantly to the loss.
 Comparative, consolidated results for this year's first quarter and the prior-year period are shown in the following condensed income statement:
 CANADA SOUTHERN PETROLEUM LTD.
 Consolidated Statement of Operations
 (unaudited -- expressed in Canadian dollars)
 Periods ended Three Months
 Sept. 30 1993 1992
 Revenues:
 Oil and gas sales $292,681 $306,494
 Proceeds under carried
 interest agreements 101,871 144,790
 Interest and other income 34,770 41,213
 Total 429,322 492,497
 Costs and expenses 644,176 521,624
 Net loss $(214,854) $(29,127)
 Average number of shares
 outstanding 12,453,880 12,345,825
 Net loss per share $(.02) $(---)
 -0- 11/15/93
 /CONTACT: Arthur B. O'Donnell of Canada Southern, 203-525-1202/


CO: Canada Southern Petroleum Ltd. ST: Alberta IN: OIL SU: ERN

LG -- NY005 -- 4166 11/15/93 07:59 EST
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Publication:PR Newswire
Date:Nov 15, 1993
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