U.S.-RUSSIAN JV SELLS RUSSIAN CRUDE

Geoilbent Ltd., a U.S.-Russian joint venture, has received cash payment for its first sale and shipment of Russian oil production. The combine of Benton Oil & Gas Co., Oxnard, Calif., 34%, and Russia's Purneftegasgeologia Industrial Association (PIA) and Purneftegas, 33% each, sold about 90,000 bbl of oil for cash. Benton said the price, paid in U.S. dollars, was based on recent prices for North Sea Brent crude. Brent futures have ranged from almost $14/bbl to almost $16/bbl in recent

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