J.M. Resources Inc said it has acquireda 90 pct interest in DEI Acquisition Corp from InterFirst
Venture Corp, Sam B. Myers, Neomar Resources Inc and Richard L.
Morgan, all of Dallas, for warrants to acquire 10.1 mln shares
of J.M. stock and three mln dlrs of notes.
    The warrants are exercisable at par value, currently 10 cts
per share, until March 20, 1997.  The company said if the
warrants were exercised in full, they would represent a 40.7
pct interest in J.M. common stock.  It said amounts due under
the notes are payable soleley from proceeds of the sale of
securities by J.M. and non-oil and natural gas revenues of DEI.
    J.M. said DEI provides specialty insulation installation
and asbestos removal services.
    J.M. said all of its directors except Jack E. Manning Jr.
have resigned and Myers and Morgan were named to the board.
    It said Manning has resigned as president in favor of Myers
and will service as vice president in charge of oil and natural
gas operations.
 Reuter
