UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 144
NOTICE OF PROPOSED SALE OF SECURITIES
PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
ATTENTION: Transmit for filing 3 copies of this form concurrently
with either placing an order with a broker to execute
sale or executing a sale directly with a market maker.
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1 (a) NAME OF ISSUER (Please type or print) (b) IRS IDENT. NO (c) S.E.C.
FILE NO.
Pendaries Petroleum Ltd. 52-2051576
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1 (d) ADDRESS OF ISSUER STREET CITY STATE ZIP CODE
8 Greenway Plaza Ste. 910 Houston, TX 77046
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(e) TELEPHONE NO. AREA
CODE (713) NUMBER 355-2900
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2 (a) NAME OF PERSON (b) SOCIAL (c)RELATION.(d) ADDRESS ST. CITY ST ZIP
FOR WHOSE ACCT. THE SECURITY # TO ISSUER
SECURITIES ARE TO BE ORDERS
SOLD IDENT. NO.
4080 Ibis Circle Point
Guy B. Snowden ###-##-#### Director Boca Raton, FLA 33431
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INSTRUCTION: The person filing this notice should contact the issuer to obtain
the I.R.S. Identification Number and the S.E.C File Number.
<TABLE>
<S> <C> <C> <C> <C> <C> <C> <C>
3 (a) (b) SEC USE ONLY (c) (d) (e) (f) (g)
Title of the Number of Aggregate Number of Approximate Name of Each
Class of Name and Address of Each Broker Brokers/Dealers Shares Market Shares or Date of Sale Securities
Securities Through Whom the File Number Or Other Value Other Units (See instr. Exchange
To Be Sold Securities are to be Offered or Units To Be (See instr. Outstanding 3 (f)) (See instr.
Each Market Maker Sold (See 3 (d)) (See instr. (MO. DAY YR.) 3 (g))
Who is Acquiring the Securities instr 3 (c)) 3(e))
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Oliver St.Tower
125 High St.
Boston, MA 02110 2704 A/o 12-25-98
Common Stock Goldman Sachs 101,861 38,198 8,781,970 12-29-98 AMEX
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</TABLE>
INSTRUCTIONS:
1. (a) Name of issuer.
(b) Issuer's I.R.S. Identification Number
(c) Issuer's S.E.C. File number, if any
(d) Issuer's address, including zip code.
(e) Issuer's telephone number, including area code.
2. (a) Name of person for whose account the securities are to be sold.
(b) Such person's Social Security or I.R. identification number.
(c) Such person's relationship to the issuer (e.g., officer, director, 10%
Stockholder, or member of immediate family of any of the foregoing.
(d) Such person's address, including zip code.
3. (a) Title of the class of securities to be sold.
(b) Name and address of each broker through whom the securities are intended
to be sold.
(c) Number of shares or other units to be sold (if
debt securities, give the aggregate file amount..
(d) Aggregate market value of the securities to be sold as of a specified
date within 10 days prior to the filing of this notice.
(e) Number of shares or other units of the class outstanding, or if debt
securities the fact amount thereof outstanding, as shown by the most
recent report or statement published by the issuer.
(f) Approximate date on which the securities are to be sold.
(g) Name of each securities exchange, if any, on which the securities are
intended to be sold.
SEC 1147 (5-96)
<TABLE>
<CAPTION>
TABLE I - SECURITIES TO BE SOLD
Furnish the following information with respect to the
acquisition of the securities to be sold And with respect to the
payment of all or any part of the purchase price or other
consideration therefor:
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<S> <C> <C> <C> <C> <C> <C>
Title of Date you Nature of Acquisition Name of Person from Whom Amount of Date of Nature of
the Class Acquired Transaction Acquired (If gift, also Securities Payment Payment
give date donor acquired) Acquired
Common Stock 03-21-97 Open Market Acquisition N/A 101,861 03-21-97 Cash
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</TABLE>
INSTRUCTIONS: 1. If the securities were purchased and full payment therefor was
not made in cash at the time of purchase, explain in the table or in a note
thereto the nature of the consideration given. If the consideration consisted of
any note or other obligation, or if payment was made in installments describe
the arrangement and state when the note or other obligation was discharged in
full or the last installment paid.
2. If within two years after the acquisition of the securities the person for
whose account they are to be sold had any short positions, part or other
option to dispose of securities referred to in paragraph (d)(3) of
Rule 144, furnish full Information with respect thereto.
<TABLE>
<CAPTION>
TABLE II - SECURITIES SOLD DURING THE PAST 3 MONTHS
Furnish the following information as to all securities of the issuer sold during
the past 3 months by the person for whose account the securities are to be sold.
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Amount of Gross
<S> <C> <C> <C> <C>
Name and Address of Seller Title of Securities Sold Date of Sale Securities Sold Proceeds
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</TABLE>
<PAGE>
REMARKS:
INSTRUCTIONS:
See the definition of "person" in paragraph (a) of Rule 144. Information is to
be given not only as To the person for whose account the securities are to be
sold but also as to all other persons included In that definition. In addition,
information shall be given as to sales by all persons whose sales are of the
Required by paragraph (e) of Rule 144 to be aggregated with sales for the
account of the person.
Filing this notice.
12-29-98
__________________
DATE OF NOTICE
The person for whose account the securities to which this notice relates are to
be sold hereby represents by signing this notice that he does not know any
material adverse information in regard to the current and prospective operations
Issuer of the securities to be sold which has not been publicly disclosed
/S/ Guy B. Snowden
__________________________
(SIGNATURE)
This notice shall be signed by the person for whose account the securities are
to be sold. At least one copy of the notice shall be manually signed. Any copies
not manually signed shall bear typed or printed signatures.
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ATTENTION: Intentionally misstatements or omission of facts constitute
Federal Criminal Violations (See 18 U.S.C. 1001)
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SEC 1147 (5-96)
