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PETROMINERALS CORP. ANNOUNCES RESIGNATION OF PRESIDENT AND CHIEF EXECUTIVE OFFICER EVERETT L. HODGES

 PETROMINERALS CORP. ANNOUNCES RESIGNATION OF PRESIDENT
 AND CHIEF EXECUTIVE OFFICER EVERETT L. HODGES
 TUSTIN, Calif., March 2 /PRNewswire/ -- Petrominerals Corp. (NASDAQ: PTRO) today announced that Everett L. Hodges has resigned from his position as president and chief executive officer of the company in order to pursue other business interests. Hodges will continue to serve as a director of Petrominerals Corp.
 Larry S. Dodson, chairman of the board of Petrominerals Corp., expressed the company's appreciation to Hodges for his more than four years of service.
 Pending the appointment of a president and chief executive officer, the board of directors has appointed Kenneth M. Padula to serve as chief administrative officer of the company. Padula was appointed to serve as the company's vice president and chief financial officer in July of 1991 and continues to hold those offices.
 The board of directors has formed an executive committee for the purpose of overseeing oil field operations. This committee consists of Directors Paul L. Howard and Hodges. Padula was also appointed by the board to serve as a member of this committee.
 Petrominerals Corp. engages in the exploration, production and marketing of crude oil and natural gas in California and Louisiana. Lunn Production Service, a division of Petrominerals Corp., services and maintains oil and gas wells for a number of major oil companies.
 -0- 3/2/92
 /CONTACT: Virginia M. Lazar of Petrominerals Corp., 714-730-5400/
 (PTRO) CO: Petrominerals Corp. ST: California IN: OIL SU: PER


DM-JL -- LA009 -- 3694 03/02/92 06:00 EST
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Date:Mar 2, 1992
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