WICHITA <WRO> TO BUY FOUNTAIN OIL <FGAS> Wichita Industries Inc said it agreed to buy Fountain Oil and Gas Inc. Wichita said it it will acquire all of the outstanding shares of Fountain in an exchange for about 11 mln newly issued Wichita common shares. Wichita presently has about 3.6 mln shares outstanding. The transaction calls for the issuance of 1-1/2 shares of Wichita common for each outstanding Fountain share. Wichita also said it made a number of refinancing agreements in connection with the acquisition.