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SOUTHERN MINERAL REPORTS THIRD QUARTER LOSS

 SOUTHERN MINERAL REPORTS THIRD QUARTER LOSS
 HOUSTON, Nov. 5 /PRNewswire/ -- Southern Mineral Corp.


(NASDAQ: SMIN) reported today at net loss for both the third quarter and the nine months ending Sept. 30, 1991. Due mainly to lower interest income and higher expenses, the loss in the 1991 third quarter rose to $271,000, or $.07 per share, from a loss of $6,000 in the three months ending Sept. 30, 1990. Most of the increase to expenses resulted from higher depreciation and depletion and general and administrative expenses.
 For the nine months ending Sept. 30, 1991, the company posted a loss of $181,000, or $.05 per share, compared to net income of $5,977,000, or $1.49 per share, in the same period last year. As a result of a $9.4 million gain from the company's 1990 second quarter sale of its interests in the Trimble Field, revenues declined from $11,715,000 last year to $1,991,000 this year while the provision for income taxes decreased from $3,510,000 last year to a benefit of $78,000 this year.
 Southern Mineral Corporation is primarily an exploration company with production in the states of Alabama, Arkansas, California, Mississippi, Texas and Wyoming
 SOUTHERN MINERAL CORPORATION
 STATEMENT OF INCOME
 Periods Ended Three Months Nine Months
 Sept. 30 1991 1990 1991 1990
 REVENUES
 Oil and gas $508,000 $568,000 $1,674,000 $1,962,000
 Interest 82,000 228,000 331,000 341,000
 Gain (loss) on sales
 of producing
 properties -- (5,000) (17,000) 9,396,000
 Other income -- (2,000) 3,000 16,000
 Total 590,000 789,000 1,991,000 11,715,000
 EXPENSES
 Production 78,000 69,000 234,000 249,000
 Exploration 546,000 500,000 970,000 1,182,000
 Depreciation &
 depletion 166,000 78,000 316,000 223,000
 General & admin. 205,000 150,000 730,000 574,000
 Total 995,000 797,000 2,250,000 2,228,000
 Income (loss) before
 income taxes (405,000) (8,000) (259,000) 9,487,000
 Provision (benefit)
 for income taxes (134,000) (2,000) ( 78,000) 3,510,000
 Net income (loss) $(271,000) $(6,000) $ (181,000) $5,977,000
 Net income (loss)
 per share $ (.07) $ -- $ (.05) $ 1.49
 PRICE RANGE OF COMMON STOCK -- NASDAQ NATIONAL MARKET SYSTEM
 Source of Quotations -- National Association of Securities
 Dealers Inc., Washington, D.C.
 PRICE RANGE
 1991 1990 1989
 HIGH LOW HIGH LOW HIGH LOW
 First Quarter $5.13 $3.75 $4.38 $3.75 $3.75 $3.25
 Second Quarter 4.50 2.75 5.00 3.63 4.25 3.25
 Third Quarter 4.50 2.75 5.25 4.75 4.25 3.88
 Fourth Quarter 5.00 3.75 4.25 3.50
 For the Year $ $ $5.25 $3.63 $4.25 $3.25
 Number of Stockholders of Record -- 999
 NASDAQ/NMS (NATIONAL MARKET SYSTEM) LISTING -- SMIN
 -0- 11/5/91
 /CONTACT: John Misitigh, vice president, secretary and treasurer of Southern Mineral, 713-872-7621/
 (SMIN) CO: Southern Mineral Corp. ST: Texas IN: MNG SU: ERN PS -- NY091 -- 1465 11/05/91 18:41 EST
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Copyright 1991 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Nov 5, 1991
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