WICHITA &lt;WRO> TO BUY FOUNTAIN OIL &lt;FGAS>

  Wichita Industries Inc said it
  agreed to buy Fountain Oil and Gas Inc.
      Wichita said it it will acquire all of the outstanding
  shares of Fountain in an exchange for about 11 mln newly issued
  Wichita common shares. Wichita presently has about 3.6 mln
  shares outstanding.
      The transaction calls for the issuance of 1-1/2 shares of
  Wichita common for each outstanding Fountain share.
      Wichita also said it made a number of refinancing
  agreements in connection with the acquisition.
  

