CANADIAN OCCIDENTAL PETROLEUM LTD. ANNOUNCES MASILA BLOCK UPDATE

    CANADIAN OCCIDENTAL PETROLEUM LTD. ANNOUNCES MASILA BLOCK UPDATE
    CALGARY, Alberta, Jan. 24 /PRNewswire/ -- Canadian Occidental Petroleum Ltd. (AMEX: CXY, Toronto, Montreal: CXY), on behalf of its wholly owned subsidiary, CanadianOxy Offshore International Co., Pecten Yemen Co. (a Shell Oil Co. subsidiary), Occidental Peninsula Inc. and Consolidated Contractors International SAL, announced further exploration success on the Masila Block and extension of the exploration phase of the contract.
    The first well in the Hemiar structure, Hemiar No. 1 (formerly Hamood), was drilled to a depth of 1840 meters and encountered 14 meters of net pay in the Qishn Formation.  Hemiar No. 1 was production tested at an initial rate of 1552 barrels of oil per day and further drilling will determine the extent of the discovery.  Located 18 kilometers east of the Sunah field, Hemiar can be tied into the proposed central production facility and pipeline.
    In the Camaal field, Camaal No. 4, located two kilometers from Camaal 2 and Camaal 3X, was drilled to 2184 meters and encountered two Qishn Formation intervals with a combined net pay of 15 meters. Production testing will determine if the intervals are similar to zones tested in Camaal No. 2 and Camaal 3X at rates of 12,670 and 10,795 barrels of oil per day.
    Production tests at Sunah-1, Sunah-2 and Heijah-1 resulted in stabilized pump rates of 1685, 3800 and 4860 barrels of oil per day.
    The Republic of Yemen government has agreed to extend the exploration phase of the concession agreement to March 15, 1995. The two year extension will allow the aggressive exploration program, currently employing three drilling rigs and three seismic crews, to continue.
    -0-                    1/24/92
    /CONTACT:  John S. McKay of Canadian Occidental Petroleum, 403-234-6700/
    (CXY.) CO:  Canadian Occidental Petroleum Ltd. ST:  Alberta IN:  OIL SU:

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