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HONDO REPORTS PROGRESS OF WELL IN COLOMBIA

 ROSWELL, N.M., Feb. 4 /PRNewswire/ -- Hondo Oil & Gas Co. (AMEX: HOG) reported today that Hondo Magdalena Oil & Gas Ltd.'s Lilia No. 10 well is drilling ahead below 8,200 feet, and appears to be nearing the top of the La Paz formation, the well's objective. The well is located on the Opon Association Contract Area in the Middle Magdalena Basin of Colombia South America.
 Hondo Magdalena intends to drill the well to a total depth of 10,500 feet. The well encountered mechanical problems which delayed the original schedule for the drilling of the well.
 Recently, the company has recorded a number of natural gas shows at depths below 7,700 feet. These indications will be further evaluated during the testing upon completion of the drilling activity. Robert O. Anderson, chairman and chief executive officer, said, "Early signs from the well are encouraging. The data collected during the drilling conform to our geologic interpretations."
 -0- 2/4/93
 /CONTACT: C.B. McDaniel of Hondo Oil & Gas Co., 505-625-8700/
 (HOG)


CO: Hondo Oil & Gas Co.; Hondo Magdalena Oil & Gas Ltd. ST: New Mexico IN: OIL SU:

MS-JB -- LA011 -- 2733 02/04/93 08:02 EST
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Publication:PR Newswire
Date:Feb 4, 1993
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