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MAYNARD OIL COMPANY OFFERS TO PURCHASE ODD-LOT SHARES

 DALLAS, Jan. 18 /PRNewswire/ -- Maynard Oil Company (NASDAQ-NMS: MOIL) announced today that it has offered to purchase odd- lot shares of its common stock from shareholders owning fewer than 100 shares as of Jan. 6, 1993. The purchase price offered is $6.00 per share, which represents a 41 percent premium over the closing price of $4.25 on Jan. 15, 1993.
 Maynard is making the offer directly from its Dallas headquarters and expects to mail the official offer today to all eligible shareholders of record, including nominees who may be holding shares on behalf of beneficial owners. The offer expires March 15, 1993 unless extended by the company.
 The offer is being made as a convenience to odd-lot holders who desire to sell but have not done so because of brokerage commissions and transfer taxes associated with odd-lot sales. Also, this action will reduce Maynard's overall costs of maintaining shareholder accounts.
 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- 1/18/93
 /CONTACT: Glenn R. Moore, president of Maynard Oil Company, 214-891-8880/
 (MOIL)


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

WB -- NY064 -- 6002 01/18/93 16:39 EST
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Publication:PR Newswire
Date:Jan 18, 1993
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