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FORTUNE PETROLEUM CORPORATION LISTS ON THE AMERICAN STOCK EXCHANGE; COMPANY PREVIOUSLY TRADED ON THE NASDAQ SYSTEM

 NEW YORK, Sept. 28 /PRNewswire/ -- Fortune Petroleum Corporation (AMEX: FPX) today began trading its common stock and units on the American Stock Exchange. The issue was previously traded on the Nasdaq Small Cap Market System.
 Fortune Petroleum's common, trading under the ticker symbol "FPX", opened at 4 on 100 shares.
 The company's units, consisting of two shares of common stock and two common stock purchase warrants, opened at 7-7/8 on 50,500 units, under the symbol "FPX.E".
 GHM, Inc. has been selected as Fortune Petroleum's specialist firm.
 Fortune Petroleum, based in Agoura Hills, Calif., is engaged in the acquisition, operations, production and development of domestic oil and gas properties. Its principal operations are located in California, Texas and Oklahoma.
 Dan E. Pasquini, president and chief executive officer of Fortune Petroleum said, "We believe our AMEX listing will provide Fortune and its shareholders with the benefits from the AMEX uptick rule, tight spreads, liquidity and will also provide the company with blue sky trading clearance throughout the United States. We feel that this move to the AMEX auction market is a positive stepping stone for Fortune and its shareholders."
 The American Stock Exchange is unique among U.S. financial markets. It is the only exchange to successfully provide both a primary equities market for growth companies and a principal market for derivatives. The American Stock Exchange is dedicated to providing both public and professional investors with superior trading products and services at competitive prices.
 -0- 9/28/93
 /CONTACT: Melissa Grand, manager, Communications of American Stock Exchange, 212-306-1635/
 (FPX)


CO: Fortune Petroleum Corporation ST: California, Texas, Oklahoma IN: OIL SU:

WB -- NY084 -- 6515 09/28/93 16:23 EDT
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Publication:PR Newswire
Date:Sep 28, 1993
Words:280
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