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NORCEN ENERGY RESOURCES LTD. MAKES ANNOUNCEMENT REGARDING NORTH CANADIAN OILS

 CALGARY, Alberta, March 30 /PRNewswire/ -- Norcen Energy Resources Ltd. (AMEX: NCN; Toronto, Montreal: NCN) announced today that it has been advised by North Canadian Oils Ltd. that North Canadian's board of directors has decided not to proceed with the business combination which Norcen had proposed to North Canadian. The decision by North Canadian's board does not affect Norcen's proposed acquisition from Noranda Inc. and Daal Energy Holdings Inc. of their combined 50.5 percent common share interest in North Canadian, which has been submitted to Norcen's shareholders for approval at a meeting to be held on April 1.
 Norcen is considering its alternatives in response to North Canadian's decision.
 -0- 3/30/93
 /CONTACT: Ron Burrows, manager-investor relations, Norcen Energy Resources, 403-231-0107, or fax: 403-231-0011/
 (NCN)


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

LS -- LA038 -- 1298 03/30/93 21:24 EST
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Publication:PR Newswire
Date:Mar 30, 1993
Words:150
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