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MAXUS ENERGY CORPORATION ANNOUNCES PRELIMINARY RESULTS OF VOLCANERA-1 WELL IN COLOMBIA

 DALLAS, Aug. 10 /PRNewswire/ -- Maxus Energy Corporation (NYSE: MXS) today announced preliminary results from the Volcanera-1 well on the Recetor Block in Colombia, S.A. The Volcanera-1 well, which is located in the Llanos Basin about 100 miles northeast of Bogota, was spudded on May 31, 1992.
 Testing of the middle portion of the Mirador formation commenced on Aug. 4, 1993. The interval tested was between 18,520 feet and 18,695 feet. The well tested through a 1/2-inch choke at a flow rate of 7.2 million cubic feet per day (mmcfpd) of gas and 240 barrels of liquid hydrocarbons per day with a flowing tubing pressure of 1,450 pounds per square inch. The gas has a gravity of 0.844 and the liquid hydrocarbon gravity is 45 degree API.
 The next step in the testing phase will include perforating the interval from 18,400 feet to 18,485 feet in the upper portion of the Mirador formation. The two intervals will be combined and tested.
 The well was drilled to a total depth of 19,103 feet on May 28, 1993. The top of the Mirador formation was reached at 18,400 feet, and a gross interval of 675 feet was encountered. During operations to run electric logs in the well, a string of instruments was dropped in the hole. Debris from the instruments (fish) could not be recovered; thus, the interval below 18,733 feet cannot be evaluated by logging or testing in this well.
 Maxus Colombia, Inc. is operator and holds approximately 53.3 percent interest in the Volcanera-1 well. The other partners and their interests include Deilmann Erdol Erdgas GMBH, a German oil and gas company, 20 percent; Inaquimicas, S.A., a Colombian company, 16.7 percent; and British Petroleum Exploration Company (Colombia) Limited, 10 percent.
 On May 16, 1993, Maxus Colombia, Inc. spudded the Liria-1 well (same ownership interest as above), also located on the Recetor Block. The well is targeting a different structure approximately 23 kilometers southwest of the Volcanera-1 well. Currently, the Liria-1 is drilling below 5,000 feet. Maxus expects to complete drilling and evaluation of the well in approximately seven to nine months.
 Dallas-based Maxus Energy Corporation is a large independent oil and gas exploration and production company with operations in 14 countries, including the U.S.
 -0- 8/10/93
 /CONTACT: Peter Dallas of Maxus Energy Corporation, 214-953-2083/
 (MXS)


CO: Maxus Energy Corporation ST: Texas IN: OIL SU:

MP -- NY050 -- 1169 08/10/93 11:50 EDT
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Date:Aug 10, 1993
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