LEXINGTON, Ky., Jan. 7 /PRNewswire/ -- Daugherty Resources, Inc.
(Nasdaq: NGASF), has filed a S-4 Registration Statement with the Securities
and Exchange Commission that is intended to permit the Company to move its
domicile from British Columbia to Delaware.
    The matter will come before the Company's shareholders at the Annual
General Meeting scheduled for May 10, 1999.  If approved by at least three-
fourths of the Common Stock voted at the Meeting, subject to regulatory
approval, it is anticipated that the Domestication will become effective
immediately after the Meeting.
    "The Domestication is intended to enhance shareholder value over the long
term," said William S. Daugherty, Chairman and CEO.  "In addition, it will
reduce the Company's costs associated with the accounting and legal
complexities arising from multi-jurisdictional compliance."
    The Company's assets are all located inside the United States and its
Common Stock is only traded on the Nasdaq SmallCap Market.
    Daugherty Resources, Inc. is a natural resources development company with
interests in oil and gas development, wood products manufacturing and gold
mining prospects.
    The information in this release includes certain forward-looking
statements that are based on assumptions that in the future may prove not to
have been accurate.  Those statements, and Daugherty Resources and its
subsidiaries are subject to a number of risks, including production variances
from expectations, volatility of product prices, the capital expenditures
required to fund its operations, environmental risks, competition, government
regulation, and the ability of the company to implement its business strategy.
These and other risks are described in the company's documents and reports
that are available from the company and the United States Securities and
Exchange Commission.

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