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HARCOR ENERGY ANNOUNCES SUCCESSFUL COMPLETION OF NATURAL GAS WELL IN SOUTH TEXAS AND INCREASED PRODUCTION ON SOUTH TEXAS PROPERTIES

 LOS ANGELES, March 16 /PRNewswire/ -- HarCor Energy Inc. (NASDAQ: HARC) has achieved successful completion of a natural gas development well in LaSalle County, Texas, on properties acquired by the South Texas Limited Partnership ("STLP"). The well is currently producing at a stabilized flow rate of 2,100 MCFD of gas at a 615 psi flowing tubing pressure and was completed in the Edwards Lime formation with perforations 10,284 feet -- 10,485 feet.
 HarCor also announced a significant increase in production on the STLP properties. When acquired in October, 1992 producing rates were 9.5 MMCFD of natural gas and 120 BPD of oil. As of March 15, implementation of the planned exploitation program on the properties has increased production rates to their current level of 14.5 MMCFD and 220 BPD of oil, inclusive of the newly completed development well.
 HarCor as a general partner currently owns a 25.25 percent interest in the STLP properties and has entered into negotiations to acquire an additional 25.25 percent interest in the STLP.
 Commenting on the performance of the acquisition, Mark Harrington, chairman and chief executive officer of HarCor, stated, "We are very pleased with the results of the South Texas exploitation program. Results of this effort will begin to be reflected in HarCor's first quarter 1993 financials."
 HarCor is an independent energy company pursuing risk-managed oil and gas acquisitions for future exploitation.
 -0- 3/16/93
 /CONTACT: Mark G. Harrington, chairman and CEO, or Francis G. Roth, president, of HarCor Energy Inc., 310-575-9599/
 (HARC)


CO: HarCor Energy Inc. ST: California, Texas IN: OIL SU:

MS-LS -- LA003 -- 6461 03/16/93 10:30 EST
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Publication:PR Newswire
Date:Mar 16, 1993
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