PETROMINERALS CORP. CEASES NEGOTIATIONS TO PURCHASE 80 PERCENT OF STOCKER RESOURCES INC. AND STOCKER RESOURCES L.P.
PETROMINERALS CORP. CEASES NEGOTIATIONS TO PURCHASE
80 PERCENT OF STOCKER RESOURCES INC. AND STOCKER RESOURCES L.P.
TUSTIN, Calif., Nov. 5 /PRNewswire/ -- Everett L. Hodges, president and chief executive officer of Petrominerals Corp. (NASDAQ: PTRO) today announced that Petrominerals has ceased negotiations with Stocker Resources Inc. ("SRI"), the general partner of Stocker Resources L.P., a California limited partnership ("Stocker"), to acquire 80 percent of SRI and Stocker.
Petrominerals Corp. engages in the 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.
/CONTACT: Virginia M. Lazar of Petrominerals Corp., 714-730-5400/
(PTRO) CO: Petrominerals Corp., Stocker Resources Inc., Stocker Resouces
L.P. ST: California IN: MNG SU: SE-EH -- LA004 -- 1000 11/05/91 06:00 EST