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LOMAK ACQUIRES $3.9 MILLION OF PROPERTIES

 FORT WORTH, Texas, June 8 /PRNewswire/ -- Lomak Petroleum, Inc. (NASDAQ: LOMK) today announced that it had agreed to acquire oil and gas properties in Ohio and Pennsylvania from several parties for $3.9 million. The properties include 187 producing wells on which Lomak will assume operations and additional interests in 40 wells currently operated by the company. Proved reserves attributable to the interests include 17,200 barrels of oil and 5.5 Bcf of gas. On an equivalent barrel basis, the purchase price equates to $4.20 per barrel. Purchases covering approximately half of the value have closed. The remainder are expected to close within 45 days. Including these purchases, Lomak will have acquired $11.1 million worth of properties since yearend.
 Lomak also announced the successful completion of an exploratory well in northeastern Ohio. The well was drilled to the Rose Run interval of the Knox formation at approximately 7,100 feet. Since being placed on production three weeks ago, the well has produced an average of 1.0 million cubic feet of natural gas per day. The company owns a 30 percent interest in the well and 37 percent in the surrounding acreage. The first of several offset wells is expected to begin drilling within 30 days.
 Lomak Petroleum, Inc. is engaged in the acquisition, production and development of oil and gas properties and provides field services ancillary to the oil industry.
 -0- 6/8/93
 /CONTACT: C. R. Michaels, vice chairman, 216-877-6747, or John H. Pinkerton, president, 817-870-2601, both of Lomak Petroleum, Inc./
 (LOMK)


CO: Lomak Petroleum, Inc. ST: Texas, Ohio IN: OIL SU: TNM

AR -- CL006 -- 6370 06/08/93 08:23 EDT
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Publication:PR Newswire
Date:Jun 8, 1993
Words:277
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