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HARCOR ENERGY INC. ANNOUNCES INVESTMENT IN JEFFERSON GAS SYSTEMS INC. AND APPOINTMENT OF NEW DIRECTOR

 HARCOR ENERGY INC. ANNOUNCES INVESTMENT
 IN JEFFERSON GAS SYSTEMS INC. AND APPOINTMENT OF NEW DIRECTOR
 LOS ANGELES, Aug. 25 /PRNewswire/ -- HarCor Energy Inc. (NASDAQ: HARC) announced today that it had invested $500,000 to acquire 3 percent of the outstanding shares of Jefferson Gas Systems Inc. Jefferson is a privately held enterprise recently formed to participate in the non-regulated natural gas/electric market. Jefferson's strategy is to make a series of related investments through financial partnerships and strategic alliances along the value chain from the natural gas wellhead to independent power plants and cogeneration facilities. An initial step in the execution of this strategy is to acquire and build a marketing, logistics and transportation business. Recently, Jefferson entered into a letter of intent to give it voting and board control of Sunrise Energy Services, a larger natural gas marketing company with a significant presence in California.
 As part of the transaction between HarCor and Jefferson, Vinod K. Dar, president of Jefferson, will become a member of the board of directors of Harcor and Mark G. Harrington, Harcor's chairman and chief executive officer, will become a member of the board of directors of Jefferson.
 Commenting on the investment, Harrington stated, "We look forward to developing a close working relationship with Jefferson. The access to premium natural gas markets which Jefferson can provide should greatly assist our efforts in acquiring and financing natural gas properties over the coming years."
 HarCor Energy is a Los Angeles-based independent oil and gas company with operations in the United States and in Canada through Consolidated HCO Energy Ltd.
 -0- 8/24/92
 /CONTACT: Mark G. Harrington, chairman and CEO, or Francis H. Roth, president, 310-575-9599, of HarCor Energy/
 (HARC) CO: HarCor Energy Inc.; Jefferson Gas Systems Inc. ST: California IN: OIL SU: TNM PER


BP-KJ -- LA003 -- 2969 08/25/92 11:02 EDT
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Publication:PR Newswire
Date:Aug 25, 1992
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