content: UNITED STATES
                         SECURITIES AND EXCHANGE COMMISSION
                                Washington, D.C.  20549
  
                                      FORM 144
  
                                  NOTICE OF PROPOSED SALE OF SECURITIES
                PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
  
  ATTENTION:             Transmit  for  filing 3 copies of this form  concurrently
                         with  either  placing  an order  with a broker to execute
                         sale or executing a sale directly with a market maker.
  ------------------------------------------------ ------------------- -----------
  1 (a) NAME OF ISSUER (Please type or print)      (b) IRS IDENT. NO   (c) S.E.C.
                                                                       FILE NO.
  
       Pendaries Petroleum Ltd.                     52-2051576
  ------------------------------------------------ ------------------- -----------
  --------------------------------------------------------------------------------
  1 (d) ADDRESS OF ISSUER       STREET     CITY      STATE          ZIP CODE      
                                        
                        
  
       8 Greenway Plaza  Ste. 910         Houston,  TX        77046
  --------------------------------------------------------------------------------
  --------------------------------------------------------------------------------
     (e) TELEPHONE NO.    AREA      
                          CODE (713) NUMBER  355-2900
  --------------------------------------------------------------------------------
  --------------------------------- ------------------ -------------- ------------
  2 (a) NAME OF PERSON (b) SOCIAL    (c)RELATION.(d) ADDRESS ST.  CITY  ST   ZIP
  FOR WHOSE ACCT. THE      SECURITY #   TO ISSUER                  
  SECURITIES ARE TO BE     ORDERS             
  SOLD                     IDENT. NO.         
                                                     4080 Ibis Circle Point
  Guy B. Snowden      ###-##-####    Director        Boca Raton, FLA   33431  
  --------------------------------- ------------------ -------------- ------------
  
    INSTRUCTION: The person filing this notice should contact the issuer to obtain
                 the I.R.S. Identification Number and the S.E.C File Number.
  <TABLE>
  
  
                                                                                                                          
  <S>            <C>                               <C>             <C>           <C>          <C>           <C>           <C>
                                                                                                                         
  3 (a)          (b)                               SEC USE ONLY    (c)           (d)          (e)           (f)           (g)
  Title of the                                                     Number of     Aggregate    Number of     Approximate   Name of Each
    Class of     Name and Address of Each Broker   Brokers/Dealers  Shares       Market       Shares or     Date of Sale  Securities
   Securities    Through Whom the                   File Number     Or Other     Value        Other Units   (See instr.   Exchange
   To Be Sold    Securities are to be Offered or                    Units To Be  (See instr.  Outstanding    3 (f))       (See instr.
                        Each Market Maker                           Sold (See     3 (d))      (See instr.   (MO. DAY YR.)  3 (g))
                 Who is Acquiring the Securities                    instr 3 (c))              3(e))               
  
  -------------- --------------------------------- ------------- -------------- --------------------------- ------------- ------------
  -------------- --------------------------------- ------------- -------------- --------------------------- ------------- ------------
                                 Oliver St.Tower
                                 125 High St.
                                 Boston, MA  02110 2704                          A/o 12-25-98
   Common Stock   Goldman Sachs                                    101,861       38,198       8,781,970     12-29-98        AMEX 
  -------------- --------------------------------- ------------- -------------- ------------- ---------------- ------------- ---------
  -------------- --------------------------------- ------------- -------------- ------------- ---------------- ------------- ---------
  
  
  
  
  -------------- --------------------------------- ------------- -------------- ------------- ---------------- ------------- ---------
  -------------- --------------------------------- ------------- -------------- ------------- ---------------- ------------- ---------
  
  
  
  
  -------------- --------------------------------- ------------- -------------- ------------- ---------------- ------------- ---------
  </TABLE>
  INSTRUCTIONS:
  1.  (a) Name of issuer.
      (b) Issuer's I.R.S.  Identification  Number 
      (c) Issuer's S.E.C. File number, if any 
      (d) Issuer's  address,  including  zip code. 
      (e) Issuer's  telephone number, including area code.
  
  2.  (a) Name of person for whose account the securities are to be sold.
      (b) Such person's Social Security or I.R. identification number.
      (c) Such person's relationship to the issuer (e.g., officer, director, 10%
           Stockholder, or member of immediate family of any of the foregoing.
      (d) Such person's address, including zip code.
  
  3.  (a) Title of the class of securities to be sold.
      (b) Name and address of each broker through whom the securities are intended
          to be  sold. 
      (c) Number  of  shares  or  other  units  to be sold (if 
          debt securities,  give the aggregate file amount..  
      (d) Aggregate market value of the securities to be sold as of a specified 
          date within 10 days prior to the filing of this notice.
      (e) Number of shares or other  units of the class  outstanding,  or if debt
          securities  the fact amount thereof  outstanding,  as shown by the most
          recent report or statement published by the issuer.
      (f) Approximate date on which the securities are to be sold.
      (g) Name of each  securities  exchange,  if any, on which the securities are
          intended to be sold.
  
  SEC  1147 (5-96)
  <TABLE>
  
  <CAPTION>
                          TABLE I - SECURITIES TO BE SOLD
                Furnish the following information with respect to the
          acquisition of the securities to be sold And with respect to the
              payment of all or any part of the purchase price or other
                               consideration therefor:
      --------------- ------------- ----------------------------- ------------------------------ ------------------------------------
       <S>              <C>            <C>                       <C>                             <C>          <C>        <C>
        Title of        Date you       Nature of Acquisition     Name of Person from Whom        Amount of    Date of    Nature of
        the Class       Acquired            Transaction          Acquired (If gift, also         Securities   Payment    Payment
                                                                 give date donor acquired)       Acquired             
      
      Common Stock    03-21-97        Open Market Acquisition      N/A                           101,861      03-21-97    Cash       
      --------------- ------------- ----------------------------- ------------------------------ ------------------------------------
      --------------- ------------- ----------------------------- ------------------------------ ------------------------------------
  
  
  
  
  
  
  
      --------------- ------------- ----------------------------- ------------------------------ ----------------- ------------- -----
  </TABLE>
  INSTRUCTIONS:  1. If the securities were purchased and full payment therefor was
  not  made in cash at the time of  purchase,  explain  in the  table or in a note
  thereto the nature of the consideration given. If the consideration consisted of
  any note or other  obligation,  or if payment was made in installments  describe
  the  arrangement  and state when the note or other  obligation was discharged in
  full or the last installment  paid. 
  2. If within two years after the acquisition of the securities the person for 
  whose account they are to be sold had any short positions,  part or  other  
  option  to  dispose  of  securities  referred  to in paragraph (d)(3) of 
  Rule 144, furnish full Information with respect thereto.
  
  
  <TABLE>
  <CAPTION>
                 TABLE II - SECURITIES SOLD DURING THE PAST 3 MONTHS
  Furnish the following information as to all securities of the issuer sold during
  the past 3 months by the person for whose account the securities are to be sold.
      ------------------------------------------------ --------------------------------- --------------- ------------------ ----------
                                                                                                             Amount of          Gross
                <S>                                        <C>                            <C>             <C>                 <C>    
                Name and Address of Seller                 Title of Securities Sold       Date of Sale    Securities Sold     Proceeds
      ------------------------------------------------ --------------------------------- --------------- ------------------ ----------
      ------------------------------------------------ --------------------------------- --------------- ------------------ ----------
  
  
  
  
  
  
  
  
      ------------------------------------------------ --------------------------------- --------------- ------------------ ----------
  </TABLE>
  <PAGE>
  
  REMARKS:
  
  
  
  INSTRUCTIONS:
  See the  definition of "person" in paragraph (a) of Rule 144.  Information is to
  be given not only as To the person for whose  account the  securities  are to be
  sold but also as to all other persons included In that definition.  In addition,
  information  shall be given as to sales by all  persons  whose  sales are of the
  Required  by  paragraph  (e) of Rule 144 to be  aggregated  with  sales  for the
  account of the person.
  Filing this notice.
  
    12-29-98
  __________________  
   DATE OF NOTICE
  
  
  The person for whose account the  securities to which this notice relates are to
  be sold  hereby  represents  by signing  this  notice  that he does not know any
  material adverse information in regard to the current and prospective operations
  Issuer of the securities to be sold which has not been publicly disclosed
  
  
    /S/ Guy B. Snowden 
  __________________________
        (SIGNATURE)
  
  
  This notice shall be signed by the person for whose account the  securities  are
  to be sold. At least one copy of the notice shall be manually signed. Any copies
  not manually signed shall bear typed or printed signatures.
      ----------------------------------------------------------------------------
        ATTENTION: Intentionally misstatements or omission of facts constitute 
                   Federal Criminal Violations (See 18 U.S.C. 1001)
      ----------------------------------------------------------------------------
  SEC 1147 (5-96)
metadata_documents: [{"type": "144", "sequence": "1", "description": "NOTICE OF PROPOSED SALE OF SECURITIES", "secsgml_size_bytes": 11114}]
text: UNITED STATES
                         SECURITIES AND EXCHANGE COMMISSION
                                Washington, D.C.  20549
  
                                      FORM 144
  
                                  NOTICE OF PROPOSED SALE OF SECURITIES
                PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
  
  ATTENTION:             Transmit  for  filing 3 copies of this form  concurrently
                         with  either  placing  an order  with a broker to execute
                         sale or executing a sale directly with a market maker.
  ------------------------------------------------ ------------------- -----------
  1 (a) NAME OF ISSUER (Please type or print)      (b) IRS IDENT. NO   (c) S.E.C.
                                                                       FILE NO.
  
       Pendaries Petroleum Ltd.                     52-2051576
  ------------------------------------------------ ------------------- -----------
  --------------------------------------------------------------------------------
  1 (d) ADDRESS OF ISSUER       STREET     CITY      STATE          ZIP CODE      
                                        
                        
  
       8 Greenway Plaza  Ste. 910         Houston,  TX        77046
  --------------------------------------------------------------------------------
  --------------------------------------------------------------------------------
     (e) TELEPHONE NO.    AREA      
                          CODE (713) NUMBER  355-2900
  --------------------------------------------------------------------------------
  --------------------------------- ------------------ -------------- ------------
  2 (a) NAME OF PERSON (b) SOCIAL    (c)RELATION.(d) ADDRESS ST.  CITY  ST   ZIP
  FOR WHOSE ACCT. THE      SECURITY #   TO ISSUER                  
  SECURITIES ARE TO BE     ORDERS             
  SOLD                     IDENT. NO.         
                                                     4080 Ibis Circle Point
  Guy B. Snowden      ###-##-####    Director        Boca Raton, FLA   33431  
  --------------------------------- ------------------ -------------- ------------
  
    INSTRUCTION: The person filing this notice should contact the issuer to obtain
                 the I.R.S. Identification Number and the S.E.C File Number.
  3 (a)          (b)                               SEC USE ONLY    (c)           (d)          (e)           (f)           (g)
  Title of the                                                     Number of     Aggregate    Number of     Approximate   Name of Each
    Class of     Name and Address of Each Broker   Brokers/Dealers  Shares       Market       Shares or     Date of Sale  Securities
   Securities    Through Whom the                   File Number     Or Other     Value        Other Units   (See instr.   Exchange
   To Be Sold    Securities are to be Offered or                    Units To Be  (See instr.  Outstanding    3 (f))       (See instr.
                        Each Market Maker                           Sold (See     3 (d))      (See instr.   (MO. DAY YR.)  3 (g))
                 Who is Acquiring the Securities                    instr 3 (c))              3(e))               
  
  -------------- --------------------------------- ------------- -------------- --------------------------- ------------- ------------
  -------------- --------------------------------- ------------- -------------- --------------------------- ------------- ------------
                                 Oliver St.Tower
                                 125 High St.
                                 Boston, MA  02110 2704                          A/o 12-25-98
   Common Stock   Goldman Sachs                                    101,861       38,198       8,781,970     12-29-98        AMEX 
  -------------- --------------------------------- ------------- -------------- ------------- ---------------- ------------- ---------
  -------------- --------------------------------- ------------- -------------- ------------- ---------------- ------------- ---------
  
  -------------- --------------------------------- ------------- -------------- ------------- ---------------- ------------- ---------
  -------------- --------------------------------- ------------- -------------- ------------- ---------------- ------------- ---------
  
  -------------- --------------------------------- ------------- -------------- ------------- ---------------- ------------- ---------
  INSTRUCTIONS:
  1.  (a) Name of issuer.
      (b) Issuer's I.R.S.  Identification  Number 
      (c) Issuer's S.E.C. File number, if any 
      (d) Issuer's  address,  including  zip code. 
      (e) Issuer's  telephone number, including area code.
  
  2.  (a) Name of person for whose account the securities are to be sold.
      (b) Such person's Social Security or I.R. identification number.
      (c) Such person's relationship to the issuer (e.g., officer, director, 10%
           Stockholder, or member of immediate family of any of the foregoing.
      (d) Such person's address, including zip code.
  
  3.  (a) Title of the class of securities to be sold.
      (b) Name and address of each broker through whom the securities are intended
          to be  sold. 
      (c) Number  of  shares  or  other  units  to be sold (if 
          debt securities,  give the aggregate file amount..  
      (d) Aggregate market value of the securities to be sold as of a specified 
          date within 10 days prior to the filing of this notice.
      (e) Number of shares or other  units of the class  outstanding,  or if debt
          securities  the fact amount thereof  outstanding,  as shown by the most
          recent report or statement published by the issuer.
      (f) Approximate date on which the securities are to be sold.
      (g) Name of each  securities  exchange,  if any, on which the securities are
          intended to be sold.
  
  SEC  1147 (5-96)
  TABLE I - SECURITIES TO BE SOLD
                Furnish the following information with respect to the
          acquisition of the securities to be sold And with respect to the
              payment of all or any part of the purchase price or other
                               consideration therefor:
      --------------- ------------- ----------------------------- ------------------------------ ------------------------------------
  Title of        Date you       Nature of Acquisition     Name of Person from Whom        Amount of    Date of    Nature of
        the Class       Acquired            Transaction          Acquired (If gift, also         Securities   Payment    Payment
                                                                 give date donor acquired)       Acquired             
      
      Common Stock    03-21-97        Open Market Acquisition      N/A                           101,861      03-21-97    Cash       
      --------------- ------------- ----------------------------- ------------------------------ ------------------------------------
      --------------- ------------- ----------------------------- ------------------------------ ------------------------------------
  
      --------------- ------------- ----------------------------- ------------------------------ ----------------- ------------- -----
  INSTRUCTIONS:  1. If the securities were purchased and full payment therefor was
  not  made in cash at the time of  purchase,  explain  in the  table or in a note
  thereto the nature of the consideration given. If the consideration consisted of
  any note or other  obligation,  or if payment was made in installments  describe
  the  arrangement  and state when the note or other  obligation was discharged in
  full or the last installment  paid. 
  2. If within two years after the acquisition of the securities the person for 
  whose account they are to be sold had any short positions,  part or  other  
  option  to  dispose  of  securities  referred  to in paragraph (d)(3) of 
  Rule 144, furnish full Information with respect thereto.
  TABLE II - SECURITIES SOLD DURING THE PAST 3 MONTHS
  Furnish the following information as to all securities of the issuer sold during
  the past 3 months by the person for whose account the securities are to be sold.
      ------------------------------------------------ --------------------------------- --------------- ------------------ ----------
                                                                                                             Amount of          Gross
  Name and Address of Seller                 Title of Securities Sold       Date of Sale    Securities Sold     Proceeds
      ------------------------------------------------ --------------------------------- --------------- ------------------ ----------
      ------------------------------------------------ --------------------------------- --------------- ------------------ ----------
  
      ------------------------------------------------ --------------------------------- --------------- ------------------ ----------
  REMARKS:
  
  INSTRUCTIONS:
  See the  definition of "person" in paragraph (a) of Rule 144.  Information is to
  be given not only as To the person for whose  account the  securities  are to be
  sold but also as to all other persons included In that definition.  In addition,
  information  shall be given as to sales by all  persons  whose  sales are of the
  Required  by  paragraph  (e) of Rule 144 to be  aggregated  with  sales  for the
  account of the person.
  Filing this notice.
  
    12-29-98
  __________________  
   DATE OF NOTICE
  
  The person for whose account the  securities to which this notice relates are to
  be sold  hereby  represents  by signing  this  notice  that he does not know any
  material adverse information in regard to the current and prospective operations
  Issuer of the securities to be sold which has not been publicly disclosed
  
    /S/ Guy B. Snowden 
  __________________________
        (SIGNATURE)
  
  This notice shall be signed by the person for whose account the  securities  are
  to be sold. At least one copy of the notice shall be manually signed. Any copies
  not manually signed shall bear typed or printed signatures.
      ----------------------------------------------------------------------------
        ATTENTION: Intentionally misstatements or omission of facts constitute 
                   Federal Criminal Violations (See 18 U.S.C. 1001)
      ----------------------------------------------------------------------------
  SEC 1147 (5-96)