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PRAIRIE OIL ROYALTIES COMPANY LTD. ANNOUNCES RECEIPTS FOR FINAL PROSPECTUS

 CALGARY, Alberta, July 6 /PRNewswire/ -- Prairie Oil Royalties Company Ltd. announced today that, upon receiving final receipts for its prospectus dated June 29, 1993 from the Securities Commissions in Alberta, Saskatchewan and Ontario, the 1 million special warrants issued by the company on April 20, 1993 at a price of $15.375 have been exercised and one million common shares of Prairie Oil will be issued to the holders of the special warrants. As a result, net proceeds to Prairie Oil of $15,000,000 plus interest since April 20, 1993 has been released from escrow to Prairie Oil.
 The offering of special warrants was underwritten by BBN James Capel Inc.
 -0- 7/6/93
 /CONTACT: Gordon B. Singer, VP and controller of Prairie Oil Royalties Co., 403-231-0116/
 (POY.)


CO: Prairie Oil Royalties Co. Ltd. ST: Alberta IN: OIL SU: OFR

BP -- LA034 -- 8788 07/06/93 17:04 EDT
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Publication:PR Newswire
Date:Jul 6, 1993
Words:150
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