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BR AND TALISMAN ANNOUNCE NEW DISCOVERY WELL IN ALGERIA.


HOUSTON--(BUSINESS WIRE)--Aug. 9, 1999--

Burlington Resources Burlington Resources, is an American oil and gas company. Their headquarters are in Houston, Texas.

Based in Houston, Texas, BR has major offices located in Calgary, London, Farmington, Midland and Fort Worth.
 Inc. (NYSE NYSE

See: New York Stock Exchange
:BR) through its wholly-owned subsidiary, LL&E Algeria Ltd.; Sonatrach, the National Oil and Gas Enterprise of Algeria; and Talisman Energy Talisman Energy TSX: TLM is one of Canada's largest petroleum companies. It was originally part of British Petroleum, known as BP Canada, but in 1992 it became an independent company named Talisman Energy.  Inc. of Canada through its wholly-owned subsidiary, Talisman (Algeria) B.V., today announced successful test results from the MLNW-1, a wildcat discovery well on the Menzel Lejmat Block 405 in the Berkine Basin of Algeria. The well discovered oil in the Strunian F1 zone of a Devonian age (Geol.) the age next older than the Carboniferous and later than the Silurian; - called also the Age of fishes ltname>. The various strata of this age compose the Devonian formation or system, and include the old red sandstone of Great Britain.  reservoir. A total of 20.5 meters (67 feet) was perforated and tested. The well flowed at 8,459 barrels of 42.4 degree API gravity The American Petroleum Institute gravity, or API gravity, is a measure of how heavy or light a petroleum liquid is compared to water. If its API gravity is greater than 10, it is lighter and floats on water; if less than 10, it is heavier and sinks.  oil and 12.6 million cubic feet of natural gas per day on a 84/64-inch choke with 728 psi flowing wellhead well·head  
n.
1. The source of a well or stream.

2. A principal source; a fountainhead.

3. The structure built over a well.


wellhead
Noun

1.
 pressure. Oil was also encountered in a thin interval of the shallower Triassic TAG-I formation sandstones, but was not flow tested and will be evaluated in subsequent appraisal wells.

Burlington Resources, through its wholly owned subsidiary Wholly Owned Subsidiary

A subsidiary whose parent company owns 100% of its common stock.

Notes:
In other words, the parent company owns the company outright and there are no minority owners.
, LL&E Algeria Ltd. operates the MLNW-1 well, located approximately 6 kilometers (3.8 miles) southwest of the MLN-5 well, 8.5 kilometers (5.3 miles) southwest of the MLN-4 well and 5 kilometers (3.1 miles) northeast of the MLW-1 well. Oil from the Devonian F1 zone was encountered at all 3 of the previous wells, making this new discovery the fourth location on Block 405 where stable, high quality crude oil has been found in Devonian age sandstones. Bobby S. Shackouls, BR's Chairman, President and Chief Executive Officer commented, "The MLNW-1 exploration well further confirms the significance and widespread presence of the F1 reservoir within the central portion of the block and will be integrated into ongoing plans to appraise appraise v. to professionally evaluate the value of property including real estate, jewelry, antique furniture, securities, or in certain cases the loss of value (or cost of replacement) due to damage.  the discoveries made to date."

BR has a 65 percent working interest in this productive area under a Production Sharing Contract with Sonatrach. Talisman Energy Inc. through its wholly-owned subsidiary, Talisman (Algeria) B.V., holds the remaining 35 percent working interest. Sonatrach has an option to participate in the development and production of commercial discoveries. Burlington Resources and Talisman are entitled to recover exploration costs out of production during the exploitation phase.

FORWARD-LOOKING STATEMENTS

This press release may contain projections and other forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Any such projections or statements reflect the Company's current views with respect to future events and financial performance. No assurances can be given, however, that these events will occur or that such projections will be achieved and actual results could differ materially from those projected. A discussion of important factors that could cause actual results to differ materially from those projected is included in the Company's periodic reports filed with the Securities and Exchange Commission.
COPYRIGHT 1999 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1999, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Geographic Code:1CANA
Date:Aug 9, 1999
Words:459
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