Directors

Vastar Resources Inc.’s board of directors last week unanimouslyrecommended approval of a $83/share cash merger offer from BPAmoco. London-based BP Amoco already owns 81.9% of Vastar’s commonstock, acquired through last month’s completed merger with AtlanticRichfield Co. BP Amoco would acquire 18.1%, or 17.7 million shares,of Vastar common stock that is now publicly held.

Vastar Resources Inc.’s board of directors yesterday unanimouslyrecommended approval of a $83-per-share cash merger offer from BPAmoco. London-based BP Amoco already owns 81.9% of Vastar’s commonstock, acquired through last month’s completed merger with AtlanticRichfield Co. BP Amoco would acquire 18.1%, or approximately 17.7million shares, of Vastar common stock that is now publicly held.

In keeping with the consolidation of the natural gas industry,the boards of directors of GRI (formerly Gas Research Institute)and the Institute of Gas Technology (IGT), the leading energyresearch organizations, last week announced they approved inprinciple a combination of the two organizations. The boards areexpected to meet again today (April 24) to give their final stampof approval to the deal.

In keeping with the consolidation of the natural gas industry,the boards of directors of GRI (formerly Gas Research Institute)and the Institute of Gas Technology (IGT), the leading energyresearch organizations, said yesterday they have approved inprinciple a combination of the two organizations. The boards areexpected to meet again next Monday to give their final stamp ofapproval to the deal.

ONEOK said last week that its board of directors has voted toterminate its planned merger with Southwest Gas. The terminationdecision was made pursuant to a provision in the merger agreementthat permitted any party to terminate if certain conditions werenot fulfilled by December 14, 1999. ONEOK notified Southwest of thetermination late last week.

Barrett Resources Corp.’s board of directors elected Peter A.Dea, 46, vice chairman of the board and CEO last week. Dea replacedWilliam J. Barrett, 70, the founder of the company, and former CEO.The promotion became effective immediately. The board also said ithas increased its membership from nine to 10 people and that Mr.Dea has been elected to fill the new board position. Mr. Barrettwill be retiring as chairman of the board on March 31. Mr. Deajoined Barrett Resources in 1993 and has held various explorationgeologist positions prior to being promoted to senior vicepresident-exploration in 1996. In 1998, he was elected executivevice president-exploration. Barrett Resources is a Denver-basedindependent natural gas and oil exploration and production co. withproperties primarily in the Rocky Mountains, Midcontinent and GulfCoast.

Blocked in its bid for neighboring Southwest Gas, Austin,TX-based Southern Union Co. focused on the East, picking upapproval from its board of directors and that of the Fall River GasCo., on a merger agreement.

The board of directors for the London-based International Petroleum Exchange urged its members last Wednesday to accept a buy-out offer from five outside investors including British Gas, Distrigas, Enron, Nord Pool and OM Group, rather than accept a proposed merger bid from the New York Mercantile Exchange. The 475 members of the IPE will vote on the sale at an extraordinary general meeting held on July 30. The board threatened to resign if the outside investor sale failed.

The board of directors for the London-based InternationalPetroleum Exchange urged its members Wednesday to accept a buy-outoffer from five outside investors rather than accept a proposedmerger bid from the New York Mercantile Exchange. The 475 membersof the IPE will vote on the sale at an extraordinary generalmeeting held on July 30. The board threatened to resign if theoutside investor sale failed.