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MAYNARD OIL COMPANY ELECTS DIRECTOR

 DALLAS, May 20 /PRNewswire/ -- Stockholders of Maynard Oil Company (NASDAQ: MOIL) elected Ralph E. Graham to serve as a director of the company, it was announced today.
 In addition, the stockholders approved amendments to the company's certificate of incorporation to eliminate the classification of its board of directors and to decrease the minimum number of directors to three, as well as eliminating supermajority voting requirements for certain transactions with owners of 10 percent or more of the company's stock and requiring directors to consider certain criteria in evaluating combination proposals or amendments to the company's certificate of incorporation.
 Maynard Oil Company is engaged in exploration, development and production of oil and natural gas in the United States. The company's common stock is traded over-the-counter under the NASDAQ symbol MOIL.
 -0- 5/20/93
 /CONTACT: Glenn R. Moore, president of Maynard Oil Company, 214-891-8880/
 (MOIL)


CO: Maynard Oil Company ST: Texas IN: OIL SU: PER

CK -- NY105 -- 0904 05/20/93 16:10 EDT
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Publication:PR Newswire
Date:May 20, 1993
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