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NOBLE AFFILIATES ANNOUNCES INTENT TO PURCHASE FREEPORT-MCMORAN PROPERTIES

 ARDMORE, Okla., Aug. 27 /PRNewswire/ -- Noble Affiliates, Inc. (NYSE: NBL) today announced its wholly owned subsidiary, Samedan Oil Corporation, has reached an agreement to purchase substantially all of FM Properties Inc. (NASDAQ: FMPO) oil and gas properties for $305,000,000 cash, effective Oct. 1, 1993.
 Additional information on this agreement will be released later today.
 Noble Affiliates, Inc. is an independent energy company with exploration and production operations throughout major basins in the United States, including the Gulf of Mexico, as well as international operations primarily in Canada, Tunisia, Indonesia and Equatorial Guinea. Its common stock is listed on the NYSE under the symbol "NBL."
 -0- 8/27/93
 /CONTACT: William D. Dickson of Noble Affiliates, Inc., 405-223-4110/
 (NBL)


CO: Noble Affiliates, Inc.; Freeport-McMoran Properties, Inc. ST: Oklahoma IN: OIL SU: TNM

MG -- NY039 -- 6674 08/27/93 14:04 EDT
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Publication:PR Newswire
Date:Aug 27, 1993
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