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MAESA PETROLEUM INC. PROVIDES UPDATE

 VANCOUVER, British Columbia, April 13 /PRNewswire/ -- Maesa Petroleum Inc. (NASDAQ: MSAPF; Alberta: MPT) ("Maesa"), announced the following information in relation to the recent acquisitions of 26 percent each of Allied Gaming Management Inc. ("Allied") and Southwest Video Poker Ltd. ("SWVP").
 Further to the news release issued March 26, 1993, the 3,500,000 shares of stock of Maesa to be earned-out by Allied have been set at a price of $4.25 per share. Also, Allied's gaming license, which was granted on March 24, 1993, expires on June 30, 1993, as do all gaming licenses in the State of Louisiana. While there is no guarantee that this license will be renewed, the corporation does not believe there will be any difficulty in the renewal as this is an annual event and, failing extraordinary circumstances, happens as a matter of course.
 An amendment to the news release issued March 26, 1993, shows that the 3,500,000 shares of stock of Maesa to be earned-out by SWVP have been changed from an earn-out price of $1.00 per share to $2.00 per share.
 In either of these acquisitions, Maesa shall not be held responsible by Allied or SWVP if it does not provide all of the funds.
 The corporation has given notice to the Alberta Stock Exchange for a proposed private placement of 1 million (1,000,000) units of the corporation at a purchase price of $1.00 per unit or an aggregate amount of $1,000,000, each unit consisting of one common share and one share purchase warrant. Each share purchase warrant entitles the holder to purchase one additional common share of the corporation at an exercise price of $1.25, on or before two years from the date of issue and a further private placement of 600,000 common shares at a purchase price of $4.00 per share on an aggregate amount of $2,400,000.
 The corporation has filed a filing statement with the Alberta Stock Exchange, a copy of which may be examined at the corporation's principal office, during normal business hours.
 -0- 4/13/93
 /CONTACT: Peter Wardle, of Maesa Petroleum, 604-261-0620/
 (MSAPF)


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


JB-BP -- LA018 -- 5277 04/13/93 14:03 EDT
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Publication:PR Newswire
Date:Apr 13, 1993
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