BAYOU <BYOU> IN DEFINITIE MERGER AGREEMENT
Bayou Resources Inc said it reached an
definite agreement to be acquired by Patrick Petroleum Co
through a stock and cash transaction valued at six dlrs per
Bayou share.
    Bayou also reported net loss of three cts or 23,024 dlrs
for the fourth quarter compared with a net income of 10,128
dlrs or one cts a year. Revenues fell to 532,807 dlrs from
769,465 dlrs a year ago.
    For the year, Bayou reported a net loss of 14 cts or
116,793 dlrs compared to a net income of 23 cts or 203,372
dlrs. Revenues fell to 2.4 mln dlrs from 3.3 mln dlrs.
 Reuter
