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LOMAK COMPLETES $7.2 MILLION OF ACQUISITIONS

 FORT WORTH, Texas, May 5 /PRNewswire/ -- Lomak Petroleum, Inc., (NASDAQ: LOMK) announced earlier today that it closed the last in a series of acquisitions totalling $7.2 million of consideration. The acquired assets include working interests in 155 gross (131 net) wells, overriding royalty interests in 164 wells, 14,123 gross (12,713 net) undeveloped acres and 70 miles of gas gathering lines. The overriding royalties are associated with wells already owned and operated by Lomak. The properties were acquired from six parties and are located primarily in Texas and to a lesser extent, in Ohio and Pennsylvania.
 Lomak's estimated proved oil and gas reserves and the pre-tax present value of its reserves as of December 31, 1992 (pro forma to include the 1993 acquisitions), increased 49 percent and 48 percent, respectively, over historical 1992 amounts.
 Summary of proved Reserves (a)
 (In thousands)
 December 31, 1992 Percent
 Historical Pro forma(b) Change
 Oil (Bbl) 1,980 4,017 +103
 Gas (Mcf) 17,615 19,981 + 13
 Equivalent barrels (c) 4,916 7,347 + 49
 Future net cash flow $48,016 $70,958 + 48
 Present value (pre-tax) $26,035 $38,524 + 48
 (a) Based on prices and costs in effect at December 31, 1992.
 (b) Pro forma to include acquisitions completed in 1993.
 (c) Gas converted to oil on basis of 6 Mcf per barrel.
 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- 5/5/93
 /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 IN: OIL SU: TNM

AR -- CL008 -- 4743 05/05/93 09:21 EDT
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Publication:PR Newswire
Date:May 5, 1993
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