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PARTNERS OIL COMPANY MAKES ANNOUNCEMENT

 OKLAHOMA CITY, May 3 /PRNewswire/ -- Partners Oil Company's (NASDAQ: PAROA) board of directors recently approved the repurchase of up to 10 percent of the company's outstanding common stock subject to the approval of Endowment Energy Partner, L.P., the company's primary lender. The company subsequently requested and received approval from Endowment Energy Partners, L.P. to repurchase up to $400,000 worth of its common stock.
 Partners Oil Company is a publicly owned Oklahoma City-based exploration and production company with primary operations offshore Texas whose common stock is traded on NASDAQ. Inquiries should be directed to Michael J. McGrath at 405-848-6016.
 -0- 5/3/93
 /CONTACT: Michael J. McGrath, executive vice president of Partners Oil Company, 405-848-6016/
 (PAROA)


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

CK -- NY108 -- 4019 05/03/93 17:27 EDT
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Publication:PR Newswire
Date:May 3, 1993
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