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HADSON COMPLETES SALE OF HERC INTEREST

 OKLAHOMA CITY, July 15 /PRNewswire/ -- Hadson Corporation (NYSE:HAD) today announced that it has completed the previously announced sale of its 49 percent stock interest in Hadson Energy Resources Corporation ("HERC") to Apache Corporation (NYSE: APA) ("Apache"). Hadson received $42 million in cash for its 3 million shares of HERC common stock, and may receive an additional $3 million in cash should Apache acquire more than 80 percent of HERC within one year. Hadson understands that to date Apache has acquired or agreed to acquire a total (including Hadson's interest) of approximately 68 percent of HERC's outstanding common stock.
 J. Michael Adcock, Hadson president said, "The sale of our ownership in HERC is a very significant event for Hadson, which allows us to enhance the company's financial stability as we focus on our natural gas and gas liquids marketing operations. Most of the proceeds from the sale have been used to reduce amounts outstanding under our 6.2 percent Senior Secured Notes with The Prudential Insurance Company of America."
 Hadson Corporation is an independent producer and supplier of energy products and services.
 -0- 7/15/93
 /CONTACT: J. Michael Adcock, president and chief executive officer, Hadson, 405-235-9531/
 (HAD APA)


CO: Hadson Corporation; Apache Corporation ST: Oklahoma IN: OIL SU:

LG -- NY084 -- 2127 07/15/93 15:37 EDT
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Publication:PR Newswire
Date:Jul 15, 1993
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