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VINTAGE PETROLEUM CLOSES $38 MILLION ACQUISITION; ANNOUNCES PROVED RESERVES ACQUIRED

 TULSA, Okla., July 6 /PRNewswire/ -- Vintage Petroleum Inc. (NYSE: VPI) today announced that it has closed its previously announced acquisition of certain oil and gas properties from Conoco Inc. for approximately $38 million cash.
 The properties are located in the San Miguelito, Rincon and Ventura fields in Ventura County, California. Proved reserves for the acquired properties as estimated by Vintage's independent petroleum consultants, Netherland, Sewell & Associates Inc., are 11.7 million barrels of oil and 5.8 Bcf of gas. Current net production from the properties averages approximately 3,000 barrels of mid-gravity oil and 700 mcf of gas per day. Vintage became the operator of the properties at closing.
 Vintage Petroleum Inc. is an independent energy company engaged in the acquisition, exploitation and development of oil and gas properties and the marketing of natural gas and crude oil. Company headquarters are in Tulsa, and its common shares are traded on the New York Stock Exchange under the symbol VPI.
 -0- 7/6/93
 /CONTACT: William C. Barnes, senior vice president and chief financial officer, of Vintage Petroleum, 918-592-0101/
 (VPI)


CO: Vintage Petroleum Inc.; Conoco Inc. ST: Oklahoma, California IN: OIL SU: TNM

TM -- SF008 -- 8675 07/06/93 13:59 EDT
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Publication:PR Newswire
Date:Jul 6, 1993
Words:202
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