	snyder soi makes cenergy crg exchange offer snyder oil partners l p told the securities and exchange commission it made an exchange offer to cenergy corp that would allow snyder to uire up to pct of the company s common stock under the exchange offer which was proposed yesterday to cenergy s officers and directors each share of cenergy common stock could be exchanged for dlrs in market value of snyder s limited partnership units snyder said under the proposal snyder which already holds cenergy common shares or pct of the total could boost its cenergy stake to a total of pct it said snyder did not say whether it has received any response to its proposal from cenergy if it uires the pct stake snyder said in its sec filing it would use the stock to obtain a proportionate beneficial interest in the company s assets and liabilities it said it has not decided its next move it the exchange proposal does not lead to negotiations with cenergy snyder said it may boost its stake or sell some or all of its current holdings it repeated a statement made in its initial sec filing last month that it is considering several alternatives including seeking control of cenergy reuter 
