NORTHERN NATURAL GAS TULSA, Okla., June 10 /PRNewswire/ -- LaTex Resources, Inc. (Nasdaq: LATX) announced today that it has signed a settlement agreement with Northern Natural Gas Company regarding litigation that stemmed from Latex's sale of its gas marketing activities in 1993. The terms of the settlement with Northern are confidential by agreement. Jeffrey T. Wilson, chairman and CEO of LaTex, said this of the settlement, "This agreement resolves the last significant litigation involving our sale of Panda Resources in 1993 and we are very happy to put this behind us. We believe it represents a fair and reasonable resolution of the issues for both parties. Perhaps now the last issue overhanging the market for our common stock has been removed and the market will concentrate on our strong cash flow and substantial oil and gas reserve asset base in evaluating our company." Headquartered in Tulsa, OK, LaTex Resources is engaged in the production, exploration, gathering and marketing of crude oil and natural gas through its subsidiary companies. The company's stock is quoted on Nasdaq under the symbol LATX. -0- 6/10/96 /CONTACT: Jeffrey Wilson of LaTex Resources, 918-747-7000; Chris Harmon or Tom Laughran of The Investor Relations Company, 847-564-5610/ (LATX) CO: LaTex Resources, Inc.; Northern Natural Gas Company ST: Oklahoma IN: OIL SU: -0- (PRN) Jun/10/96 17:39 EOS (PRN) Jun/10/96 17:39 86 â -0- (PRN) Jun/10/96 17:54
LATEX RESOURCES, INC. ANNOUNCES LITIGATION SETTLEMENT WITH
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