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PARTNERS OIL COMPANY ANNOUNCES WELL COMPLETION

 OKLAHOMA CITY, Okla., Jan. 14 /PRNewswire/ -- Partners Oil Company announced that it completed a new well on its operated North Padre Island Block 967-A on Dec. 15, 1992. This new well, the NPI Block 967 A-3 and A-3D, was completed as a parallel string dual in two zones and the combined completion tested 3.0 MMCFD. The completions were put on production immediately through the existing platform and production equipment. Partners' present interest represents an 86.8 percent working interest and a 64 percent net revenue interest in this well.
 The company, in its June 30, 1992 10-Q, reported total equity of $572,597. Based on its third quarter earnings of $164,845, the company, at Sept. 30, 1992, reported total equity of $737,442. Recently, Partners Oil Company was deleted from the NASDAQ Small Cap Market for failing to meet NASDAQ minimum capital and surplus requirements of $1,000,000. On that date, the company began trading on the OTC Bulletin Board.
 The company sought an appeal to reverse the NASDAQ decision based on the company's earnings for October and November, 1992, bringing capital and surplus requirements back into compliance. On Jan. 7, 1993, the NASDAQ Stock Market informed the company that it had reconsidered its decision and upon the company's filing of a Form 8-K with a balance sheet dated Nov. 30, 1992, demonstrating compliance, the company would be re-listed. Effective Jan. 19, 1993, the company will begin trading again on the NASDAQ Small Cap Market.
 Partners Oil Company is a publicly owned Oklahoma City, Oklahoma based exploration and production company with primary operations offshore, Texas, whose common stock is presently traded on the OTC Bulletin Board.
 Inquiries should be directed to Michael J. McGrath at 405-848-6016.
 -0- 1/14/93
 /CONTACT: Michael J. McGrath, executive vice president of Partners Oil Company, 405-848-6016/


CO: Partners Oil Company ST: Oklahoma IN: OIL SU:

TM -- NY074 -- 5020 01/14/93 16:05 EST
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Date:Jan 14, 1993
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