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PATRICK PETROLEUM SETTLES LAWSUIT

 JACKSON, Mich., Jan. 19 /PRNewswire/ -- Patrick Petroleum Company (NYSE: PPC) announced today that is has settled the previously reported suit against its wholly owned subsidiary, Patrick Petroleum Corporation of Michigan, for $100,000. This amount represents full satisfaction of all claims asserted against the company.
 The company will record the settlement amount in the fourth quarter 1992 and reverse the $910,000 contingent liability previously established for the jury verdict awarded in November 1992.
 Patrick Petroleum Company is an independent exploration and production company listed on the New York Stock Exchange since 1976. The company has interests in producing properties and undeveloped acreage in 13 states, including various interests in approximately 528 oil and gas wells located primarily in Michigan, North Dakota, Texas, Oklahoma and Louisiana.
 -0- 1/19/93
 /CONTACT: Phillip J. McAndrews of Patrick Petroleum Company, 517-787-6633; or Woody Wallace of The Investor Relations Company, 708-564-5610, for Patrick Petroleum Company/
 (PPC)


CO: Patrick Petroleum Company; Patrick Petroleum Corporation of
 Michigan ST: Michigan IN: OIL SU:


KR -- DE006 -- 6192 01/19/93 09:55 EST
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Publication:PR Newswire
Date:Jan 19, 1993
Words:176
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