What does HCRC stand for?

Amex: HEP) and Hallwood Consolidated Resources Corporation (Nasdaq: HCRC) to form a new Hallwood Energy Corporation.

HEP") and Hallwood Consolidated Resources Corporation and the acquisition of the direct energy interests of The Hallwood Group Incorporated ("Hallwood Group").

; Hallwood Consolidated Resources Corporation ST: West Virginia IN: OIL SU: TNM DM-MK -- PG011 -- 8514 06/09/92 16:36 EDT

On May 4, 1999, HEP and its affiliate Hallwood Consolidated Resources Corporation (NASDAQ: HCRC) mailed a Joint Proxy Statement/Prospectus to their unitholders and shareholders of record as of April 14, 1999.

AMEX:HEP and HEPC) and Hallwood Consolidated Resources Corporation (NASDAQ:HCRC) today announced the effectiveness of a Joint Proxy Statement/Prospectus for the consolidation of the two companies into the newly formed Hallwood Energy Corporation.

The non-cash charges include a property impairment of $4,800,000 which was taken to lower the capitalized cost of HEP's properties to an amount equal to the present value, discounted at 10%, of the future net revenues attributable to those properties, as required by the Securities and Exchange Commission's rules, and HEP's equity in the loss of its affiliate, Hallwood Consolidated Resources Corporation (Nasdaq: HCRC) of $1,798,000.

AMEX:HEP and HEPC) and Hallwood Consolidated Resources Corporation (NASDAQ:HCRC) today jointly announced that the Boards of Directors of Hallwood Consolidated Resources and the general partner of Hallwood Energy Partners have unanimously approved and recommended the approval of the consolidation of Hallwood Energy Partners, Hallwood Consolidated Resources and the energy interests of The Hallwood Group Incorporated into the newly formed Hallwood Energy Corporation.

0- HALLWOOD CONSOLIDATED RESOURCES CORPORATION SUMMARIZED FINANCIAL INFORMATION THIRD QUARTER 1998 (In thousands except per share and prices) Quarter Ended Nine Months Ended September 30, September 30, 1998 1997 1998 1997 (Unaudited) (Unaudited) Oil and Gas Revenue $7,878 $7,250 $21,872 $22,249 Other Revenue 910 255 1,931 1,415 Total Revenue 8,788 7,505 23,803 23,664 Depreciation & Depletion 3,299 2,271 8,043 6,272 Impairment of Oil and Gas Properties 3,600 14,600 Other Expenses 5,513 3,881 14,771 11,775 Total Expense 12,412 6,152 37,414 18,047 Income (loss) before tax provision (3,624) 1,353 (13,611) 5,617 Income tax provision 239 428 466 575 Net income (loss) $( 3,863) $ 925 $(14,077) $ 5,042 Net income (loss) per share - Basic $ (1.