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NOBLE AFFILIATES ANNOUNCES RESULTS OF DEBENTURE CALL

 ARDMORE, Okla., May 10 /PRNewswire/ -- Noble Affiliates, Inc. (NYSE: NBL) announced today that a substantial majority of the holders of its 7-1/4 percent convertible debentures Due 2012, which the company called for redemption, elected to receive common stock in lieu of cash.
 The company said that of the $100 million aggregate principal amount, approximately $97.8 million of the debentures have been converted into common stock at $19-5/8 per share. As a result, the company will issue approximately 5 million shares of common stock. The remaining approximately $2.2 million principal amount of debentures has been redeemed for cash.
 The company said that since approximately 97.8 percent in principal amount of debentures was converted into common stock, the redemption had no appreciable effect on the company's 1993 first quarter earnings of $4,488,000, or 10 cents per share.
 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- 5/10/93
 /CONTACT: William D. Dickson of Noble Affiliates, Inc., 405-223-4110/
 (NBL)


CO: Noble Affiliates, Inc. ST: Oklahoma IN: OIL SU:

TS -- NY043 -- 6450 05/10/93 11:27 EDT
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Publication:PR Newswire
Date:May 10, 1993
Words:224
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