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TRITON REPORTS HIGHER EARNINGS FOR FISCAL 1994 FIRST QUARTER

 DALLAS, Oct. 4 /PRNewswire/ -- Triton Energy Corporation (NYSE: OIL) today announced net earnings of $35.1 million, or $1.01 per common share, for the fiscal 1994 first quarter that ended Aug. 31, 1993. This compares to net earnings of $5.2 million, or $.15 per common share, in fiscal 1993s first quarter.
 Revenues for first quarter 1994 were $76 million, compared to $29.6 million a year ago. The fiscal 1994 first quarter results included an after-tax gain of $45.9 million from the sale of Triton's Canadian subsidiary and its working interest properties in the United States. These gains were partially reduced by a writedown of proved properties in France ($4.9 million after tax and minority interest), as a result of the SEC's ceiling limitation requirement primarily triggered by lower oil prices.
 "The favorable results this quarter stem from the effect of asset sales and cost reductions consistent with the company's effort to redirect resources toward its international exploration and production business," said Thomas G. Finck, president and chief executive officer.
 Triton Energy, based in Dallas, is an international independent oil and gas exploration and production company with oil and gas activities in numerous countries around the world.
 TRITON ENERGY CORPORATION AND SUBSIDIARIES
 Condensed Consolidated Financial Information
 (Thousands, except per share data)
 Three Months Ended
 Aug. 31,
 1993 1992
 (Unaudited)
 Revenues $75,972 $29,556
 Writedown of assets 12,262 831
 Discontinued operations:
 Gain on public stock offering,
 less income taxes -- 9,515
 Net earnings 35,078 5,151
 Earnings per common share $ 1.01 $ 0.15
 Long-term debt 148,430 26,934
 Cash, cash equivalents, and
 short-term investments (A) 67,022 44,471
 Weighted average number of
 common shares outstanding 34,651 33,960
 (A) Excludes $59 million of net proceeds relating to sale of Canadian subsidiary, proceeds of which were held in escrow at Aug. 31, 1993.
 -0- 10/4/93
 /CONTACT: W. Greg Dunlevy or Linda Covington of Triton Energy Corporation, 214-691-5200/
 (OIL)


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

PS -- NY042 -- 8227 10/04/93 09:55 EDT
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Publication:PR Newswire
Date:Oct 4, 1993
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