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NORCEN AND NORTH CANADIAN INTEGRATE OPERATIONS

 CALGARY, Alberta, July 2 /PRNewswire/ -- The board of directors of Norcen Energy Resources Ltd. (Norcen) and North Canadian Oils Ltd. (NCO) jointly announced that the board of directors of each company has approved the integration of the operations and staffs of the two companies. Norcen and NCO have signed a management services agreement pursuant to which Norcen will provide a full range of management services to NCO. The integration of the operations and staff and the terms of the management services agreement, both of which are effective July 1, 1993, are designed to maximize synergies while at the same time safeguard the respective interests of the shareholders of the two companies. NCO will continue as a publicly traded active oil and gas company.
 Effective July 1, 1993, D.K. Bruce Fenwick has been appointed president, Gordon B. Singer vice president and chief financial officer, Gerhard Schopp, vice president, Production, and Douglas W. Palmer, vice president, Exploration and Development of NCO. D. Garry Ramsden-Wood will remain as senior vice president, Marketing, Donald D. McKechnie as vice president, Power, and Naser A. Khan as treasurer of NCO.
 -0- 7/2/93
 /CONTACT: D.K. Bruce Fenwick, president of North Canadian Oils, 403-231-0612/
 (NCO. NCN.)


CO: North Canadian Oils Ltd.; Norcen Energy Resources Ltd. ST: Alberta IN: OIL SU: TNM PER

JL-LS -- LA006 -- 8063 07/02/93 09:15 EDT
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Publication:PR Newswire
Date:Jul 2, 1993
Words:227
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