Cheniere Energy Acquires 8,700 Square Miles of 3D Seismic Data; Cheniere To Deepen Stringray Test Well.HOUSTON--(BUSINESS WIRE)--June 10, 1999-- Cheniere Energy Inc. (Nasdaq:CHEX CHEX Confined Helium Experiment CHEX Channel Expanded ) announced today that it has acquired 8,700 square miles A square mil is a unit of area, equal to the area of a square with sides of length one mil. A mil is one thousandth of an international inch. This unit of area is usually used in specifying the area of the cross section of a wire or cable. of 3D seismic data from Fairfield Industries, representing coverage over 1,100 OCS OCS - Object Compatibility Standard blocks in the shallow waters of the Gulf of Mexico Noun 1. Gulf of Mexico - an arm of the Atlantic to the south of the United States and to the east of Mexico Golfo de Mexico Atlantic, Atlantic Ocean - the 2nd largest ocean; separates North and South America on the west from Europe and Africa on the east . Over the next two years, the Years, The the seven decades of Eleanor Pargiter’s life. [Br. Lit.: Benét, 1109] See : Time entire volume will be reprocessed through prestack time migration. Charif Souki, chairman of Cheniere said, "This transaction will give Cheniere a seismic database in the Gulf of Mexico that is unique among independent E&P companies. The expanded exploration effort in the shallow Gulf of Mexico is a natural extension for Cheniere, which builds upon the knowledge and experience gained in our onshore and offshore Cameron project area." In separate news, Cheniere, as Operator, announced that the Test Well at its Stingray stingray: see ray. stingray or whip-tailed ray Any of various species (family Dasyatidae) of rays noted for their slender, whiplike tail with barbed, usually venomous spines. prospect, located in West Cameron Block 49, offshore Louisiana, has reached target depth of 9,670 feet true vertical depth. Log evaluation indicates apparent pay zones sufficient to run production casing. Prior to initiating completion operations, the well will be deepened 1,500 feet in order to test deeper objective zones. Cheniere owns a 45 percent working interest in the well and its partners, including Beta Oil & Gas Inc., a private company, own the remaining 55 percent. Houston-based Cheniere Energy Inc. is an independent oil and gas company focusing in the Transition Zone and shallow waters offshore Louisiana. The Company relies extensively on the use of 3-D seismic technology in its exploration. This news release includes 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. that are based on assumptions which in the future may prove not to be accurate. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. Certain risks and uncertainties inherent in the Company's business are set forth in the Company's periodic reports that are filed with and available from the Securities and Exchange Commission. |
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