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GOLDEN TRIANGLE APPROVES REVERSE SPLIT

 CISCO, Texas, June 14 /PRNewswire/ -- The shareholders of Golden Triangle Royalty & Oil, Inc. (NASDAQ: GTRO) met on Friday, June 11, 1993 for their annual meeting. The shareholders approved a 20 for 1 reverse split. Golden Triangle has 63,358,977 shares outstanding with 48,177,436 present at the meeting of which 44,597,754 voted in favor of the reverse split, representing a 92.5 percent in favor.
 The effective date of the reverse split will be Monday, July 26, 1993 on the opening trade. The number of shares outstanding will decrease from 63,358,977 to 3,167,949 upon the effectiveness of the reverse split.
 Golden Triangle has recently increased its interests substantially so that it now has oil and gas interests under more than 24,300,000 acres in Australia and 32,304 acres in the United States. Five large anticlines with major closures ranging from 1,000 feet to 3,500 feet are on this acreage. Golden Triangle has a 25 percent working interest in the structure with 3,500 feet of closure and a 7.5 percent working interest in the other 4 large structures. Major oil fields are often found in structures with closures of this magnitude.
 Golden Triangle is traded on NASDAQ under the symbol GTRO.
 -0- 6/14/93
 /CONTACT: Ivan Webb for Golden Triangle Royalty and Oil, 817-442-2665/
 (GTRO)


CO: Golden Triangle Royalty & Oil, Inc. ST: Texas IN: OIL SU: DIV

LD-MG -- NY115 -- 1878 06/14/93 19:24 EDT
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Date:Jun 14, 1993
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