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MAXUS ENERGY REJECTS BIDS FOR INDONESIAN PROPERTIES IN NORTHWEST JAVA

 DALLAS, Sept. 28 /PRNewswire/ -- Maxus Energy Corporation (NYSE: MXS) today announced it has rejected, as inadequate, bids received for the sale of all of its interest in the Northwest Java contract area of Indonesia.
 In May, Maxus announced its intention to seek buyers for its 24.27 percent interest in the 5.8-million-acre, ARCO-operated production- sharing contract area and retained Merrill Lynch & Co. in connection with the proposed transaction.
 On Aug. 31, production commenced on a major project that delivers natural gas to the Indonesian state electric company serving the Jakarta area. The project is now providing about 90 million cubic feet per day (MMcf/D), of which approximately 20 MMcf/D is net to Maxus. Gross gas production will increase to 260 MMcf/D during 1994.
 Maxus' current net share of oil sales from Northwest Java is about 20,000 barrels per day.
 Dallas-based Maxus Energy Corporation is an independent oil and gas exploration and production company with operations in more than a dozen countries, including the United States, Indonesia and Ecuador.
 -0- 9/28/93 R
 /CONTACT: Tom Sullivan, 214-953-2844 or analysts, Peter Dallas, 214-953-2083, both of Maxus Energy Corporation/


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

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SM -- NY096 -- 6678 09/29/93 09:07 EDT
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Publication:PR Newswire
Date:Sep 29, 1993
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