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GEODYNE RESOURCES ANNOUNCES COMPLETION OF CASH MERGER

 TULSA, Okla., March 3 /PRNewswire/ -- Geodyne Resources Inc. ("Geodyne") (AMEX: GDR) announced today that following the requisite approvals by Geodyne's shareholders, Geodyne has merged with a subsidiary of Samson Investment Company ("Samson") of Tulsa, and each share of outstanding common stock of Geodyne has been converted into the right to receive $1.22 in cash. Geodyne has 16,635,376 common shares outstanding.
 As a result of this merger, Samson is the sole shareholder of Geodyne. Trading of Geodyne common stock will be suspended by the American Stock Exchange. Previous Geodyne shareholders will be provided information by which to exchange their stock certificates for $1.22 per share.
 In conjunction with the acquisition, Samson has hired many Geodyne employees for both field and Tulsa office operations.
 Through its subsidiaries, Geodyne manages, and will continue to manage, the Geodyne Energy Income Programs I, II and III and the Geodyne Institutional/Pension Energy Income Partnerships. In addition, a Geodyne subsidiary serves as the general partner of the SEnergy Drilling Programs.
 Samson is a privately owned energy company based in Tulsa. It is engaged in oil and gas production, oil field services and the management of numerous oil and gas partnership investment programs.
 -0- 3/3/93
 /CONTACT: Dennis R. Neill, senior vice president of Geodyne Resources, 918-583-1791
 (GDR)


CO: Geodyne Resources Inc. ST: Oklahoma IN: OIL SU: TNM

TM -- SF012 -- 2575 03/03/93 15:25 EST
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Publication:PR Newswire
Date:Mar 3, 1993
Words:235
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