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MAYNARD OIL COMPANY REPORTS NET INCOME

 DALLAS, March 31 /PRNewswire/ -- Maynard Oil Company (NASDAQ: MOIL) reported net income of $1,594,350 for the fourth quarter of 1992 and net income of $1,568,822 for the year. Fourth quarter results were favorably impacted by proceeds from an insurance refund and upward revisions in the company's recoverable hydrocarbon reserves which lowered depreciation and amortization expense.
 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.
 MAYNARD OIL COMPANY
 For the Twelve months ended DEC. 31, 1992 1991
 Revenues $ 17,114,565 $18,712,787
 Net Earnings 1,568,822 25,682
 Earnings Per Share $ .32 --
 Weighted Average
 Shares Outstanding 4,935,873 5,185,585
 -0- 3/31/93
 /CONTACT: Glenn R. Moore, president of Maynard Oil Company, 214-891-8880/
 (MOIL)


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

SH -- NY057 -- 1551 03/31/93 13:53 EST
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Publication:PR Newswire
Date:Mar 31, 1993
Words:166
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