3TEC Energy Completes Merger with Enex Resources

3TEC Energy Corporation has completed the previously announced cash merger with Enex Resources Corporation. Pursuant to the terms of the agreement, a wholly-owned subsidiary of 3TEC was merged into Enex resulting in Enex becoming a wholly owned subsidiary of 3TEC. Prior to the merger, 3TEC owned 80% of the outstanding common stock of Enex. The merger was effective on Dec. 31, 2001. As of such date, each share of Enex common stock not previously owned by 3TEC has been converted into the right to receive $14.00 per share in cash.

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