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PLAINS' CRUDE OIL STORAGE FACILITY RECEIVES NYMEX DESIGNATION

 HOUSTON, June 14 /PRNewswire/ -- Plains Terminal & Transfer Corporation, a unit of Plains Resources Inc. (AMEX: PLX), announced today that it had been designated by the New York Mercantile Exchange as an approved delivery location for crude oil delivered under the NYMEX "light" sweet crude oil futures
contract. The NYMEX certification will be effective July 1, 1993, and NYMEX contract deliveries following such date may be designated at Plains' facility.
 Plains said it recently placed six 100,000 barrel storage tanks into service and has established deliveries through the ARCO Pipe Line Cushing interchange. The company expects it will place 12 additional storage tanks in service by September, representing 1.4 million barrels of storage capacity.
 The company also said it has completed interconnects with substantially all major crude pipelines at the Cushing interchange and is currently installing a multi-functional manifold and pumping system. Upon final completion, Plains will be the only terminal and transfer facility in Cushing capable of simultaneously receiving and delivering crude oil at the maximum throughput rates of the connecting carriers.
 Plains Terminal and Transfer President, Mark F. Shires, noted that the company's new, state of the art terminal and transfer facility will be the only facility within the Cushing interchange equipped with secondary containment, early leak detection devices and an above ground pipeline infrastructure.
 Shires stated that if legislation which is currently pending in both the U.S. House of Representatives and the U.S. Senate is enacted, facilities that are not equipped with these features will be required to be updated or taken out of service over the next five to ten years. "There are 23 million barrels of storage capacity within the Cushing interchange, of which approximately 11 million barrels are antiquated, riveted tanks constructed prior to 1933," Shires said.
 Shires further stated that Plains' facility is designed for expansion to over 10 million barrels of storage capacity.
 The phase currently under construction contains two million barrels of tankage. Over the last several years Plains has acquired control of a large,
strategic land position located adjacent to the Cushing interchange. This land position provides Plains with unique expansion capability.
 Plains Terminal & Transfer is a wholly owned subsidiary of Plains Resources Inc., an independent oil and gas exploration and production company headquartered in Houston, Texas.
 -0- 6/14/93
 /CONTACT: Nancy J. Kerby, director, investor relations of Plains Resources, Inc., 713-654-1414, or Mark F. Shires, president, Plains Terminal & Transfer Corporation, 918-225-6717/
 (PLX)


CO: Plains Terminal & Transfer Corporation ST: Texas IN: OIL SU:

PS -- NY071 -- 1655 06/14/93 12:35 EDT
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Publication:PR Newswire
Date:Jun 14, 1993
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