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SAMSON ENERGY REPORTS HIGHER 1992 FIRST QUARTER REVENUES AND INCOME

SAMSON ENERGY REPORTS HIGHER 1992 FIRST QUARTER REVENUES AND INCOME
 TULSA, Okla., May 14 /PRNewswire/ - Samson Energy Co. Limited Partnership (AMEX: SAM) announced today its financial results for the quarter ended March 31, 1992.
 Revenues for the three months ended March 31, 1992 were $6,099,000, an increase of 28 percent compared to $4,762,000 for the three months ended March 31, 1991. Net cash provided by operating activities for the first quarter was $3,092,000 ($.68 per unit) compared to $2,949,000 ($.66 per unit) for the first quarter in 1991. The company recorded net income of $23,000 ($.01 per unit) for the quarter compared to a net loss of $840,000 (loss of $.19 per unit) for the first quarter of 1991.
 Increased revenues, cash flow and net income for the first quarter of 1992, compared to the first quarter of 1991, are attributable to higher levels of natural gas production (2,807,000 mcf, compared to 2,399,000 mcf) and crude oil production (85,000 barrels, compared to 64,000 barrels) as well as the receipt of other income from a gas contract agreement. Gas prices for the 1992 first quarter were 11 percent lower than first quarter 1991 prices ($1.26 per mcf, compared to $1.42 per mcf), reflecting the weak gas markets during the recent mild winter. Crude oil prices for the recent quarter were 14 percent lower than the first quarter in 1991 ($18.10 per barrel, compared to $21.11).
 Samson Energy Co. is a publicly traded master limited partnership whose principal business activities include the development and operation of oil and gas properties and the acquisition of producing properties. Depositary receipts evidencing units are traded on the American Stock Exchange under the symbol SAM.
 SAMSON ENERGY LIMITED PARTNERSHIP
 Statements of Operations
 Unaudited
 (In thousands, except per unit data)
 Three Months Ended March 31,
 1992 1991
 Revenues
 Oil & gas sales $ 5,081 $ 4,762
 Other Income 1,018 -
 Total Revenues $ 6,099 $ 4,762
 Expenses
 Oil and gas production 2,193 1,948
 General and administrative 265 263
 Depreciation, depletion, and
 amortization of oil and gas
 properties 3,282 3,135
 Amortization of organization
 and software costs - 15
 Interest 336 241
 Total Expenses $ 6,076 $ 5,602
 Net income (loss) $ 23 $ (840)
 Net income (loss) per
 equivalent unit $ .01 $ (.19)
 Weighted average units 4,438 4,402
 outstanding
 -0- 5/14/92
 /CONTACT: Dennis R. Neill of Samson Properties Inc.,


918-583-1791/ CO: Samson Properties ST: Oklahoma IN: OIL SU: ERN

RM -- SF020 -- 0509 05/14/92 18:17 EDT
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Publication:PR Newswire
Date:May 14, 1992
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