Printer Friendly

GLOBAL NATURAL RESOURCES IN HIGH BID

 HOUSTON, Sept. 22 /PRNewswire/ -- Global Natural Resources Inc. (NYSE: GNR) announced today that it participated in the apparent high bid on Mustang Island Block 783 in the Western Gulf of Mexico Oil and Gas Lease Sale No. 143 held Sept. 15. The bid, in which Global participated at a 36 percent level, was the highest bid received at the sale for a single block at $5.055 million. This Block received six bids, the most of any tract offered in this sale.
 The Block is in the same trend as the significant discoveries drilled by Hall-Houston earlier this year at Mustang Island Blocks 805 and 787, which were purchased recently by Apache.
 In addition to Global's 36 percent interest, Hall-Houston has 49 percent and Santa Fe Minerals 15 percent.
 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, Tatarstan - Russia, Indonesia, Malaysia and the Ivory Coast.
 -0- 9/22/93
 /CONTACT: Robert F. Vagt or William D. Hubbard of Global Natural Resources, 713-880-5464/
 (GNR)


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

LG -- NY078 -- 4829 09/22/93 15:48 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Sep 22, 1993
Words:204
Previous Article:DUFF & PHELPS: NORTHERN STATES POWER COMPANY -- WISCONSIN $40 MILLION FIRST MORTGAGE BONDS (SHELF) RATED 'AA'
Next Article:ONE VALLEY BANCORP ANNOUNCES 10 PERCENT DIVIDEND INCREASE
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters