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GLOBAL NATURAL RESOURCES RECEIVES COPY OF A RESOLUTION FROM THE GOVERNMENT OF THE RUSSIAN FEDERATION

 GLOBAL NATURAL RESOURCES RECEIVES COPY OF A RESOLUTION FROM THE
 GOVERNMENT OF THE RUSSIAN FEDERATION
 HOUSTON, Aug. 4 /PRNewswire/ -- Global Natural Resources Inc. (NYSE: GNR) announced today that it had received a copy of a Resolution Number 1375-r issued by the Government of the Russian Federation. This Resolution grants an exemption from the existing export tax to joint ventures engaged in oil and gas operations which were registered prior to Jan. 1, 1992, until such time as these ventures are compensated for expenditures related to increased production volumes. The Russian Government will establish a committee which will deal with specific matters related to this decree, including the determination of the precise period of exemption.
 The company believes that its current joint-venture activities in Tatarstan are subject to this Resolution, and is making efforts to evaluate the effect on its operations.
 Global Natural Resources Inc. is a Houston-based energy company engaged in the exploration, development and production of oil and gas in North America. The company also owns an interest in long-term oil and gas production sharing contracts in Indonesia and has joint venture projects in Tatarstan-Russia and Argentina.
 -0- 8/4/92
 /CONTACT: Robert F. Vagt or Eric Lynn Hill of Global Natural Resources, 713-880-5464/
 (GNR) CO: Global Natural Resources Inc. ST: Texas IN: OIL SU:


PS -- NY069 -- 6855 08/04/92 17:38 EDT
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Publication:PR Newswire
Date:Aug 4, 1992
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