Exhibit 99.1 [Letterhead of Prudential Securities] September 7, 1995 Board of Directors Reunion Resources Company 2801 Post Oak Boulevard Houston, TX 77056 Dear Sirs: Reunion Resources Company, a Delaware corporation ("Reunion"), and Chatwins...Reunion Resources Co • November 9th, 1995 • Drilling oil & gas wells
Reunion Resources Company, a Delaware corporation ("Reunion"), and Chatwins Holdings, Inc., ("Chatwins") a Delaware corporation, have entered into a Stock Purchase Agreement dated as of September 7, 1995 (the "Purchase Agreement") pursuant to which, among other things, Reunion will purchase all of the 601 issued and outstanding shares of common stock, par value $100 per share, and all of the 25,000 issued and outstanding shares of preferred stock, par value $100 per share, of Oneida Molded Plastics Corporation, ("Oneida") a New York corporation and a wholly-owned subsidiary of Chatwins, for approximately $3.1 million in cash. (The 601 issued and outstanding shares of common stock and the 25,000 issued and outstanding shares of preferred stock of Oneida are collectively referred to herein as the "Shares".) As of September 5, 1995, Oneida has (i) approximately $4.4 million in indebtedness to Congress Financial Corporation, which indebtedness is secured by substantially all of Oneida's as
