BR Announces Entry Into West Africa.Business/Energy Editors HOUSTON--(BUSINESS WIRE)--July 31, 2000 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) today announced its entry into West Africa West Africa A region of western Africa between the Sahara Desert and the Gulf of Guinea. It was largely controlled by colonial powers until the 20th century. West African adj. & n. with the acquisition of a 25 percent interest in the AGIP-operated M'Polo, Chaillu and Meboun Blocks, covering 5.3 million acres in offshore Gabon. A 3,100 square kilometer kilometer one thousand (103) meters; 3280.83 feet; five-eighths of a mile; abbreviated km. (1,200 square mile) seismic shoot has been completed over the blocks and two wells are planned for 2001. The concession calls for six wells to be drilled by mid-year 2003, two wells on each block. Mean field size for industry discoveries to date in the Deep Water Play in West Africa is approximately 375 million barrels of oil equivalent. Bobby S. Shackouls, BR's Chairman, President and Chief Executive Officer, commented: "The acquisition of this interest in the Deep Water Province of West Africa provides us with additional exposure to high potential exploration and complements the other international exploration opportunities we already have in China, Suriname, Ecuador, Peru, Colombia, Algeria and Canada." Burlington Resources Web site: www.br-inc.com FORWARD-LOOKING STATEMENTS forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. 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 a·mend v. a·mend·ed, a·mend·ing, a·mends v.tr. 1. To change for the better; improve: amended the earlier proposal so as to make it more comprehensive. 2. . 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. |
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