ELF TO PULL OUT OF U.S. UPSTREAM

Elf Exploration Inc., Houston, plans to withdraw from the U.S. because of lagging profits and declining exploration opportunities. The company's entire U.S. oil and c,as exploration and production holdings are for sale. "Other Elf companies in the U.S. are not affected by this decision," said Tex White, Elf Exploration legal counsel and vice-president of law. Elf plans to open a data room in Houston as soon as possible and hopes to sell U.S. properties within 30-60 days. The company's

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