UNIMAR COMPANY AND SUBSIDIARIES

       Notes to Condensed Consolidated Financial Statements
                        September 30, 1996
                           (Unaudited)


(1)  Unimar Company (the Company) is a general partnership
     organized under the Texas Uniform Partnership Act, whose
     partners are Unistar, Inc., a Delaware corporation and a
     direct subsidiary of Union Texas Petroleum Holdings, Inc., a
     Delaware corporation, and LASMO (Ustar) Inc., a Delaware
     corporation and an indirect wholly-owned subsidiary of LASMO
     plc, a public limited company organized under the laws of
     England.  Each partner shares equally in the Company's net
     earnings, distributions and capital contributions.

(2)  These condensed consolidated financial statements should be
     read in the context of the consolidated financial statements
     and notes thereto included in the Company's 1995 annual
     report on Form 10-K.  In the opinion of management, the
     accompanying financial statements contain all adjustments of
     a normal recurring nature necessary for a fair presentation. 
     Interim results are not necessarily indicative of results on
     an annualized basis.

     The preparation of financial statements in conformity with
     generally accepted accounting principles requires management
     to make estimates and assumptions that affect the reported
     amounts of assets and liabilities and disclosure of
     contingent assets and liabilities at the date of the
     financial statements and the reported amounts of revenues
     and expenses during the reporting period.  Actual results
     could differ from those estimates.







                             UNIMAR COMPANY

SIGNATURES


     Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned thereunto duly authorized.


                               UNIMAR COMPANY




                               By:  /S/  GEORGE W. BERKO    
                                    George W. Berko
                                    Member of the Management
                                    Board
                                    (principal financial officer
                                    and the officer duly authorized to 
                                    sign on behalf of the registrant.)


DATE: November 11, 1996