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PARAMOUNT RESOURCES LTD. ANNOUNCES PROPERTY ACQUISITION

 CALGARY, Alberta, June 8 /PRNewswire/ -- On June 4, 1993, Paramount Resources Ltd. closed a purchase from four parties within the Negus Area of northern Alberta. Paramount purchased for an undisclosed amount, a 100 percent working interest before payout, converting to a 50 percent working interest after payout in 76 sections (48,640 acres) and 13 shut-in gas wells. These lands are 12 to 15 miles away from gas pipelines. Reserves on these lands have been estimated by a third party to contain 39 BCF of proven and probable additional natural gas.
 Effective date of this purchase is May 1, 1993.
 -0- 6/8/93
 /CONTACT: C.H. Riddell, president, or D.A. Monachello, VP, Exploration of Paramount Resources, 403-266-2047/
 (POU.)


CO: Paramount Resources Ltd. ST: Alberta IN: OIL SU: TNM

MS-JB -- LA023 -- 6589 06/08/93 13:26 EDT
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Publication:PR Newswire
Date:Jun 8, 1993
Words:139
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