UNITED STATES SECURITIES AND EXCHANGE COMMISSION
             Litigation Release No.   15928 / October 6, 1998
             Hamilton Duncan Pays Over $43,000 in Insider Trading Case
             Securities  and  Exchange  Commission v. Hamilton Richardson
             Duncan, Jr., Civil Action No.  98-S-2059  (D.  Col.)  (filed
             September 24, 1998)
                  On  September  24,  1998,  the  Securities and Exchange
             Commission (Commission) filed an insider  trading  complaint
             in  the  United  States District Court for  the District  of
             Colorado against Hamilton  Richardson  Duncan, Jr. (Duncan).
             The Commission's complaint alleged that  on  July  16, 1997,
             Duncan,  a  resident  of Denver, Colorado, violated Sections
             10(b)  and 14(e) of the  Securities  Exchange  Act  of  1934
             ("Exchange Act"), and Rules 10b-5 and 14e-3 thereunder, when
             he purchased  2,500 shares of Louisiana Land and Exploration
             Company (LLE) common  stock while in possession of material,
             nonpublic information.   Duncan  signed a consent agreement,
             and the case was settled prior to filing.
                  Under the consent agreement,  Duncan, without admitting
             or denying the Commission's allegations,  disgorged  $20,875
             of unlawful profits plus $1,609.60 prejudgment interest, and
             paid  an  additional $20,875 penalty.  Duncan also consented
             to  the  entry   of   a  permanent  injunction  from  future
             violations of Section 10(b)  of  the  Exchange  Act and Rule
             10b-5 thereunder, and Section 14(e) of the Exchange  Act and
             Rule  14e-3  thereunder.  On  September  28, 1998, the court
             approved the settlement and entered the consent injunction.
                  Specifically, the Commission's Complaint alleged:
               On July 16, 1997, the boards of directors  of  Burlington
                Resources  Inc. (BR) and LLE approved a deal under  which
                LLE shareholders  would  tender  their common stock to BR
                shareholders in exchange for BR common  stock.   Once the
                shares  were  exchanged,  LLE would cease to exist as  an
                independent corporation.
               Duncan misappropriated from  an  LLE  employee  material,
                nonpublic information relating to the BR/LLE merger.
               On  July  16,  1997,  while in possession of this insider
                information, Duncan purchased  1,000  shares of LLE stock
                at a price of $58.00, and 1,500 shares  of LLE stock at a
                price of $58.25.  Duncan executed these trades during the
                Pacific Exchange's after-hours trading session.
               On  July 17, 1997, after an early-morning  press  release
                announced  the merger, LLE common stock opened trading at
                $66.50, netting Duncan an immediate profit of $20,875.
                  The Commission  thanks  the  Pacific  Exchange  for the
             substantial  assistance  it provided in connection with  the
             investigation leading to this action.