MAXUS ENERGY SIGNS EXPLORATION AND PRODUCTION CONTRACT IN LLANOS BASIN OF COLOMBIA FOR TIERRA NEGRA BLOCK
MAXUS ENERGY SIGNS EXPLORATION AND PRODUCTION CONTRACT
IN LLANOS BASIN OF COLOMBIA FOR TIERRA NEGRA BLOCK
DALLAS, Nov. 18 /PRNewswire/ -- Maxus Energy Corporation (NYSE: MXS) announced today it has signed an exploration and production association contract in the Llanos Basin of Colombia. The block, which is called Tierra Negra, covers an onshore area of approximately 614,000 acres and is located adjacent to Maxus' Recetor Block. Maxus holds a 100 percent operating interest in the block.
The agreement calls for field geology and evaluation as well as seismic acquisition during the initial two-year period. Optional exploratory drilling may be carried out in years three through six.
Including this contract, Maxus has signed five new international exploration and production agreements during 1991.
Maxus Energy is an independent oil and gas exploration and production company based in Dallas.
/CONTACT: Linda Covington (media), 214-953-2844, or Doug Graham (analysts), 214-953-2819, both of Maxus Energy/
(MXS) CO: Maxus Energy Corporation ST: Texas IN: OIL SU: CON JT -- NY043 -- 1353 11/18/91 10:55 EST