KANEB ENERGY PARTNERS LTD <KEP> 4TH QTR LOSS Shr loss one cent Net loss 186,000 Revs 10.7 mln 11 mths Shr loss 7.26 dlrs Net loss 121.4 mln Revs 46.9 mln NOTE: In February 1986, Kaneb Services Inc contributed all of its domestic oil and gas operations to Kaneb Partners, which was newly formed, and exchanged approximately 3,200,000 depositary units respresenting limited partnership interests in KEP for approximately 6,400,000 million shares of the outstanding common stock of Kaneb Servies Inc. Kaneb now owns approximately 82 pct of KEP. During the 11 mths of operation, the partnership wrote down the carrying value of its oil and gas properties by 124.8 mln dlrs. The write downs reduced income by 7.46 dlrs per limited partnership unit.