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PARTNERS OIL COMPANY MAKES ANNOUNCEMENT

 OKLAHOMA CITY, Okla., Aug. 13 /PRNewswire/ -- Partners Oil Company's (NASDAQ: PAROA) management announced that on Aug. 12, 1993, the board of directors approved a settlement offer of the Harris County, Texas lawsuit styled Partners Oil Company vs. E. Ralph Daniel, et al., subject to the negotiation of a definitive settlement agreement.
 The settlement offer itself will have little impact on the company; however, the legal fees saved by not pursuing this litigation are substantial. Management is pleased with the resolution of this issue and looks forward to utilizing its cash flow and personnel resources in more productive pursuits.
 Partners Oil Company is a publicly owned Oklahoma City, Okla. 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- 8/13/93
 /CONTACT: Michael J. McGrath, executive vice president of Partners Oil Company, 405-848-6016/
 (PAROA)


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

TM -- NY081 -- 2725 08/13/93 17:10 EDT
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Publication:PR Newswire
Date:Aug 13, 1993
Words:171
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