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NORCEN ENERGY RESOURCES LIMITED SIGNS LETTER OF INTENT

       NORCEN ENERGY RESOURCES LIMITED SIGNS LETTER OF INTENT
    CALGARY, Alberta, Nov. 8 /PRNewswire/ -- Norcen Energy Resources Ltd. of Calgary (AMEX, Toronto, Montreal: NCN) announced it has signed a letter of intent for the purchase of the U.S. oil and gas assets of PanCanadian Petroleum Co.
    The properties will be integrated into Norcen's wholly-owned U.S. subsidiary, Norcen Explorer, Inc.
    The sale is to be effective Dec. 31, 1991 and the price is U.S. $39 million.
    The sale will add 1,900 barrels of oil per day and 8.4 million cubic feet of gas to Norcen Explorer's existing U.S. production base.
    -0-                       11/8/91
    /CONTACT:  Ron Burrows of Norcen Energy Resources Ltd., 403-231-0107/
    (NCN.) CO:  Norcen Energy Resources Limited ST:  Alberta IN:  OIL SU: KJ -- LA017 -- 2760 11/08/91 17:32 EST
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Publication:PR Newswire
Date:Nov 8, 1991
Words:137
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