REEF ENERGY &lt;RFEN> ENTERS PIPELINE AGREEMENT

  Reef Energy Corp said its
  board entered into agreements with Penteco Corp, a private
  Tulsa-based company, to buy a 12-pct interest in the general
  partnership of Penteco East Central Pipeline and a 10-pct
  interest in Lincoln Gas and Marketing Corp.
      Penteco East is a gas gathering and transmission system in
  southern Kansas and northern Oklahoma.
      It said Penteco in turn has purchased one mln shares of
  Reef common and taken options for the purchase of another two
  mln shares over the next 36 months.
  

