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TRITON ENERGY MAKES OFFER FOR MINORITY INTERESTS IN TRITON EUROPE

 DALLAS, Jan. 17 /PRNewswire/ -- Triton Energy Corporation (NYSE: OIL) today announced that it has offered to acquire the outstanding minority shareholding of Triton Europe plc. (London: TTE) in exchange for new Triton Energy convertible preferred shares. The offer values the Triton Europe shares at 37.5 pence (approximately 56 cents U.S.) per share. Triton Energy currently owns 59.5% of the outstanding shares of Triton Europe.
 Triton Energy intends to issue the preferred shares in exchange for the approximately 33.4 million Triton Europe shares not currently held by the company. The convertible preferred shares will pay a fixed dividend of 5% per annum and will be convertible into the common stock of Triton Energy Corporation at an approximate 20% premium to market value at closing. It is estimated that the closing will occur within the next 120 days.
 Triton Europe's principal producing property is the Villeperdue oil field (50% working interest), located 100 kilometers east of Paris. Triton Europe's net production from Villeperdue in the fiscal year ended May 31, 1993, averaged 3,488 barrels per day.
 The transaction is subject to approval by the minority shareholders of Triton Europe and the High Court in the United Kingdom as well as other conditions at closing.
 Triton Energy, with headquarters in Dallas, is an international independent oil and gas exploration and production company with oil and gas interests in numerous countries.
 -0- 1/17/94
 /CONTACT: W. Greg Dunlevy or Linda Covington of Triton Energy Corporation, 214-691-5200/
 (OIL)


CO: Triton Energy Corporation ST: Texas IN: OIL SU: OFR

MP -- NY015 -- 2386 01/17/94 08:35 EST
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Publication:PR Newswire
Date:Jan 17, 1994
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