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SAMSON ENERGY REPORTS HIGHER 1993 FIRST QUARTER CASH FLOW AND INCOME

 TULSA, Okla., May 13 /PRNewswire/ -- Samson Energy Co. Limited Partnership (AMEX: SAM) announced today its financial results for the quarter ended March 31, 1993.
 Net cash provided by operating activities for the first quarter was $3,500,000 (77 cents per unit), an increase of 13 percent compared to $3,092,000 (68 cents per unit) for the first quarter in 1992. The company reported record first quarter net income of $1,221,000 (27 cents per unit) compared to net income of $23,000 (1 cent per unit) for the first quarter of 1992. Revenues for the three months ended March 31, 1993, were $5,882,000 compared to $6,099,000 for the three months ended March 31, 1992.
 Increased cash flow and net income for the first quarter of 1993, compared to the first quarter of 1992, are attributable to much higher gas prices and lower production costs and interest expenses. Additionally, net income in the first quarter of 1993 benefited from a significant decline in depreciation, depletion and amortization expenses. Gas prices for the 1993 first quarter were 40 percent higher than first quarter 1992 prices ($1.77 per mcf, compared to $1.26 per mcf), reflecting improved demand for natural gas during the late winter and early spring season. Crude oil prices for the recent quarter were essentially flat compared to the first quarter in 1992 ($18.20 per barrel, compared to $18.10). Slightly lower revenues for the current quarter compared to the first quarter of 1992 are the result of reduced volumes of gas (2,101,000 mcf compared to 2,807,000 mcf) and oil (63,000 barrels compared to 85,000 barrels).
 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 Co. Limited Partnership
 Statements of Operations
 (Unaudited, in thousands, except per unit data)
 Three Months Ended March 31,
 1993 1992
 Revenues
 Oil & gas sales $ 4,864 $ 5,081
 Other Income 1,018 1,018
 Total Revenues $ 5,882 $ 6,099
 Expenses
 Oil and gas production 1,810 2,193
 General and administrative 283 265
 Depreciation, depletion, and
 amortization of oil and gas
 properties 2,336 3,282
 Interest 232 336
 Total Expenses $ 4,661 $ 6,076
 Net income $ 1,221 $ 23
 Net income per equivalent
 unit $ 0.27 $ 0.01
 Weighted average units outstanding 4,463 4,438
 -0- 5/13/93
 /CONTACT: Dennis R. Neill, senior vice president and chief operating officer of Samson Properties, 918-583-1791/
 (SAM)


CO: Samson Energy Co. Limited Partnership ST: Oklahoma IN: OIL SU: ERN

GT -- SF010 -- 8373 05/13/93 18:17 EDT
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Publication:PR Newswire
Date:May 13, 1993
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