Printer Friendly

SPHINX ESTABLISHES NEW WHOLLY OWNED SUBSIDIARY

 SPHINX ESTABLISHES NEW WHOLLY OWNED SUBSIDIARY
 FORT SMITH, Ark., Jan. 30 /PRNewswire/ -- Sphinx Natural


Resources, Inc. (NASDAQ: SPNX) has announced a new wholly owned subsidiary, Natural Resources Operating, Inc.
 The subsidiary will direct all overseas oil and gas operations of Sphinx. The subsidiary has completed arrangements to become a charter member of MegaOil U.S.A./Vista Joint Venture, Inc.
 The subsidiary will serve as project manager and will provide its operational expertise and will coordinate all activities for the 10 company consortium within MegaOil U.S.A./Vista Joint Venture, Inc.
 MegaOil U.S.A./Vista Joint Venture, Inc. is in the final stages of negotiations with several republics of the former Soviet Union to expand exploration and enhance existing production within established oil and gas fields.
 Gordon Allison, a financial consultant, Oklahoma City, Okla., negotiated the position of Natural Resources Operating, Inc. within the MegaOil U.S.A./Vista Joint Venture, Inc. consortium.
 Sphinx Natural Resources, Inc., which until late 1990 was primarily a gold mining company, continues its strategic diversification program into oil and gas development. This announcement reflects the company's continuing commitment to capitalize in the natural resource areas.
 -0- 1/30/92
 /CONTACT: Tony Viele of Grand Production Company, 405-848-1212/
 (SPNX) CO: Sphinx Natural Resources, Inc.; MegaOil U.S.A./Vista Joint Venture,
 Inc. ST: Arkansas IN: OIL SU:


BR-BN -- AT016 -- 5448 01/30/92 16:33 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jan 30, 1992
Words:233
Previous Article:INACOM CORP. REPORTS FOURTH QUARTER PROFIT
Next Article:IN HOME HEALTH REPORTS 144-PERCENT GAIN IN NET INCOME; 128-PERCENT INCREASE IN REVENUES FOR FISCAL FIRST QUARTER
Topics:


Related Articles
/REPEATING FROM THURSDAY'S FILE FOR POINTS NEEDING/SPHINX ESTABLISHES NEW WHOLLY OWNED SUBSIDIARY.
SPHINX ANNOUNCES NEW OFFICERS AND THE CENTRALIZATION OF ALL ACCOUNTING FUNCTIONS
SPHINX SUBSIDIARY ANNOUNCES OIL PRODUCTION ACTIVITY
SPHINX FINALIZES SERVICE AGREEMENT
CITIBANK SUBSIDIARY OPENS FOR BUSINESS IN RUSSIA
BT INVESTMENT PARTNERS, INC. (BTIP) INVESTS IN SPHINX GRAPHIC VENTURES, A NEWLY FORMED GRAPHIC ARTS COMPANY
SPHINX GRAPHIC VENTURES, INC., ACQUIRES THE RIVERSIDE PRESS
NEW EVIDENCE ADDS 6,000 YEARS TO EGYPT'S SPHINX RIDDLE
Eli Lilly and Company Dedicates Its Sphinx Pharmaceuticals Research Facility at North Carolina's Research Triangle Park.
ViroPharma Incorporated Appoints Richard Farley Vice President, Human Resources.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters