Anadarko and Partners Announce Deepwater Discovery in Eastern Gulf of Mexico.

Energy Editors/Business Editors

HOUSTON--(BUSINESS WIRE)--Nov. 13, 2003

Anadarko Petroleum Corporation (NYSE:APC); Dominion Exploration & Production, Inc., a wholly owned subsidiary of Dominion (NYSE: D); and Spinnaker Exploration Company (NYSE:SKE) today announced a deepwater discovery on their Spiderman prospect in the Eastern Gulf of Mexico.

The discovery well was drilled in 8,100 feet of water to a total depth of 18,065 feet targeting Middle Miocene sands between 14,000 and 17,000 feet. It encountered more than 140 feet of net pay in its two primary targets, meeting pre-drill expectations. The well is located on DeSoto Canyon block 621, about 180 miles southeast of New Orleans.

Evaluation and appraisal is ongoing and includes log analysis, core, pressure and fluid sampling. The partnership plans to immediately drill a sidetrack well at Spiderman to take conventional cores and complete the well in a higher structural position.

"Anadarko made an early commitment to the Eastern Gulf, and we're seeing that pay off with our third discovery there this year," said Jim Emme, Anadarko Vice President, Exploration. "We have a large inventory of prospects in the Eastern Gulf and we expect this area to become an important part of Anadarko's worldwide growth portfolio."

Spiderman is expected to be tied back as a satellite to a hub production facility. Anadarko, its partners and other operators in the area are currently evaluating development scenarios, including consideration of a regional hub capable of handling production from several deepwater discoveries. A central hub could service a large area, including Anadarko's Atlas and Jubilee discoveries.

"We believe our existing discoveries support a commercial project, and with each new discovery, the economics of producing from the Eastern Gulf just get better and better," Emme added.

Anadarko is the operator and holds a 45 percent working interest in the project. Dominion holds 36.67 percent and Spinnaker Exploration holds 18.33 percent.

Anadarko currently has access to 552 blocks in the Gulf of Mexico; 299 of those are in deepwater. Within the overall Eastern Gulf area, Anadarko has a 100 percent interest in 39 blocks and a partial interest in an additional 10 blocks.

Anadarko Petroleum Corporation is one of the world's largest independent oil and gas exploration and production companies. Houston-based Anadarko is active in the U.S., Canada, Algeria, Venezuela and Qatar and is executing strategic exploration programs in several other countries. More information is available at www.anadarko.com.

This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. Anadarko believes that its expectations are based on reasonable assumptions. No assurance, however, can be given that its goals will be achieved. A number of factors could cause actual results to differ materially from the projections, anticipated results or other expectations expressed in this release. While Anadarko makes these forward-looking statements in good faith, neither Anadarko nor its management can guarantee that the anticipated future results will be achieved. Anadarko discloses proved reserves that comply with the Securities and Exchange Commission's (SEC) definitions. Additionally, Anadarko may disclose estimated recoverable reserves, which the SEC guidelines do not allow us to include in filings with the SEC. See Additional Factors Affecting Business in the Management's Discussion and Analysis included in the company's 2002 Annual Report on Form 10-K.