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MAESA PETROLEUM INC. ANNOUNCES ACQUISITION AGREEMENT

 VANCOUVER, British Columbia, March 26 /PRNewswire/ -- Maesa Petroleum Inc. ("Maesa") (NASDAQ: MSAPF, Alberta: MPT) announced that it has entered into an agreement to acquire 26 percent of the shares of Allied Gaming Management Inc. ("Allied") in consideration for the payment of $1,100,000 U.S. and 3,500,000 shares of stock of Maesa Petroleum Inc. on an "earn out basis" at current market price. Additionally, Maesa agrees to provide $3,000,000 U.S. on an "as needed basis" over the next six months (before Oct. 1, 1993) in return for a note of this date from Allied bearing 6 percent interest payable on or before April 1, 1998, secured by a security interest in the location agreements entered into between Allied and licensed locations for Video Poker machines prior to repayment in full of the monies so advanced. Allied is licensed to operate in the state of Louisiana for the installation and operation of Video Poker machines. The bill allowing Video Poker was passed by the state of Louisiana in July, 1991. This transaction is subject to the approval of the regulatory bodies, including the Alberta Stock Exchange, and is scheduled to close on April 15, 1993.
 Allied has entered into agreements to acquire or develop a number of locations immediately. Allied expects to have in operation approximately 500 machines within 120 to 180 days. Allied intends to purchase these machines, on an installment basis, from a major manufacturer. Allied projects to have daily revenues of $74,000 U.S. based on having 500 machines in operation. Operating expenses which include license fees, maintenance, machine purchase payments, etc. are estimated to amount to $12,000 U.S. per day. The revenue projections are based on numbers currently being generated by existing operators in Louisiana.
 Allied intends to pursue a significant number of locations in Louisiana over the coming 12 months. Peter Wardle, president of Maesa, has been invited to join the board of directors of Allied.
 Maesa also announced that it has completed its initial payment of $400,000 U.S., regarding the purchase of 26 percent of the shares of South West Video Poker Ltd. ("SWVP"). The purchase agreement provides that Maesa must provide $2,000,000 U.S. in loan financing to SWVP, $600,000 U.S. of which must be paid before May 15, 1993 and $1,400,000 U.S. by Oct. 31, 1993. Maesa intends to issue to SWVP 3,500,000 performance escrow shares at an issue price of $1.00 per share. SWVP was formed 18 months ago to do feasibility and marketing studies of the major market area in Texas, predicated on the State Legislature accepting and passing a video poker bill. The transaction is subject to the approval of the regulatory bodies, including the Alberta Stock Exchange, and is scheduled to close on May 15, 1993.
 SWVP is based in Dallas, Fort Worth. The company currently employs 35 people. The directors of SWVP are:
 Steven Pedro, M.D., F.A.A.D. is president and a manager of the company. He has been a physician since 1976, Pedro is also chairman of the board and the controlling shareholder of Citizens State Bank, First State Bank of Grandview and First National Bank of Lipan and all local commercial banks in Texas. In addition, Pedro has wide ranging commercial interests and is a director and officer of several corporations.
 Richard Michael is an attorney in private practice in Austin, Texas. Michael previously served as an assistant Cook County, Ill., state's attorney and general counsel to a major New Orleans home builder. Michael will be the registered lobbyist assigned to the Texas Legislature by the company.
 Peter Wardle is President of Maesa Petroleum Inc. Wardle has been a licensed architect in British Columbia, Canada for the last 15 years. Wardle is also actively involved in real estate development in Canada and the United States.
 Senior staff are:
 Ted Coker is the vice president of marketing for SWVP. Coker was employed by GTE for thirty four years and as a senior vice president/general manager when he retired. He was responsible and helped develop their education services and marketing departments as well as Network Planning and coordination of Telecommunications. Coker has a bachelor of science degree from Texas Tech University in Math. He has held licenses with NASD, New York Stock Exchange and the Texas Insurance and Securities Board.
 Tony Dorsett is the vice president of marketing and public relations for the company. Dorsett graduated from the University of Pittsburgh in speech and communication. He was NCAA All American four times and won the Heisman Trophy in 1976. After college he continued his athletic career with the Dallas Cowboys for 11 years being named Rookie of the Year in 1977 and All Pro four times. He holds the NFL record for the longest run and had eight 1,000-yard seasons. He retired from professional football after three years with the Denver Broncos. Dorsett is the majority stockholder in several corporations and is a spokesperson for several national and multinational companies. He devotes time to Easter Seals, Cancer Foundation, United Way, Make a Wish Foundation, American Heart Association and the Third Negro College Fund.
 James A.F. Kelly, MS, CPP is the vice president of security and maintenance for the company. Kelly is presently developing a program for the initiation of specially trained security personnel to be placed at all major Video Poker user locations. Kelly has 35 years of experience in law enforcement and security. He was with the United States Nuclear Regulatory Commission as Nuclear Security Chief for ten years. He served as assistant director of research for The International Association. of Chiefs of Police for eight years and has been a law enforcement official with the United States Marines/Coast Guard, Florida State Police and Police Administrator in Charlotte, N.C. He has a bachelor of science and bachelor of arts degree in Education/History for St. Joseph's University and a master of science degree from Florida State University in Criminology.
 Director of marketing is Raymond Mahfouz. Mahfouz has spent 35 years in the vending industry. Mahfouz is the Marketing Associate for the largest Video Poker operation in Louisiana.
 The reception for Video Poker in the state far surpasses the expectation of the company. Currently in the state there is legalized dog racing, horse racing, an offshore gambling boat in Corpus Christi and a record setting lottery. Records compiled from other states that have legalized video poker show the Texans truly love this game.
 At this time the company is actively pursuing a similar program in the states of Arkansas and Oklahoma based on the legalization of Video Poker by the state legislatures.
 Maesa also wishes to announce that Dr. Steven Pedro will join its Board of Directors.
 -0- 3/26/93
 /CONTACT: Peter Wardle of Maesa Petroleum, 604-261-0620/
 (MSAPF)


CO: Maesa Petroleum Inc.; Allied Gaming Management Inc.; South West
 Video Poker Ltd. ST: British Columbia IN: OIL CNO SU: TNM


BP -- LA025 -- 0153 03/26/93 16:25 EST
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Date:Mar 26, 1993
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