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PRAIRIE OIL ROYALTIES COMPANY, LTD. ANNOUNCES EQUITY ISSUE

 CALGARY, March 30 /PRNewswire/ -- Prairie Oil Royalties Company, Ltd. (AMEX: POY) announced today that it has entered into an agreement with BBN James Capel Inc. ("BBNJC") whereby BBNJC has committed to purchase, subject to certain conditions, one million special warrants exchangeable into one million common shares of Prairie Oil at a price of $15.375 per special warrant.
 Commenting on the equity issue, George V. Kenda, President of Prairie Oil, said "This issue will achieve a number of objectives, including an increase in the public float for the Company's shares, as well as facilitating an expanded oil and gas investment program in Western Canada."
 -0- 3/30/93
 /CONTACT: Gordon B. Singer, vice-president, comptroller, of Prairie Oil Royalties Company, 403-231-0116/
 (POY)


CO: Prairie Oil Royalties Company; BBN James Capel Inc. ST: Alberta IN: OIL SU:

LD -- NY010 -- 0851 03/30/93 08:01 EST
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Publication:PR Newswire
Date:Mar 30, 1993
Words:144
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