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TGX CORPORATION ISSUES STATEMENT

 TGX CORPORATION ISSUES STATEMENT
 SHREVEPORT, La., Sept. 23 /PRNewswire/ -- TGX Corporation announced


that at a hearing conducted in the Bankruptcy Court for the Western District of Louisiana on Sept. 21, the previously issued order converting the company's Reorganization Plan to a Chapter 7 liquidation proceeding was rescinded.
 In addition, the Bankruptcy Court approved an order acknowledging that the company's Plan of Reorganization under Chapter 11 had been substantially consummated.
 The Bankruptcy Court's Order of substantial consummation will become final and nonappealable in 10 days.
 The company is headquartered in Shreveport, La., and is engaged in the production of oil and gas reserves.
 -0- 9/23/92 R
 /CONTACT: George McKellar, secretary of TGX Corporation, 318-221-0707/ CO: TGX Corporation ST: Louisiana IN: OIL SU:


BR-CF -- AT005 -- 2714 09/23/92 14:30 EDT
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Publication:PR Newswire
Date:Sep 23, 1992
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