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GLOBAL NATURAL RESOURCES ANNOUNCES WEST AFRICA VENTURE

 HOUSTON, May 24 /PRNewswire/ -- Global Natural Resources Inc. (NYSE: GNR) announced today that its wholly owned subsidiary GNR (Cote d'Ivoire) Ltd. has, subject to the approval of the Ivory Coast government, entered into a joint venture agreement with a subsidiary of United Meridian Corporation of Houston and the International Finance Corporation of Washington (World Bank group) for the joint exploration and development of hydrocarbons in Block CI-11 offshore the Ivory Coast, West Africa. The block includes the BI-8X and BI-5X wells drilled in the 1980s, which encountered oil and gas in several zones and flowed oil at commercial rates on drill stem test. The prospects which these wells tested will be the first structures drilled.
 During the first exploration term which expires in June 1994, the group will drill these two wells, the first well scheduled for the last quarter of 1993. Global's interests in the two wells will be 10 percent and 18 percent respectively.
 Global Natural Resources is engaged in worldwide oil and gas exploration and production and in natural gas gathering, processing and marketing. The company has operations and interests in North America, Tartarstan - Russia, Indonesia, and Malaysia.
 -0- 5/24/93
 /CONTACT: Robert F. Vagt, or Gerald R. Colley of Global Natural Resources, 713-880-5464/
 (GNR)


CO: Global Natural Resources Inc. ST: Texas IN: OIL SU:

SH -- NY070 -- 1751 05/24/93 13:48 EDT
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Publication:PR Newswire
Date:May 24, 1993
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