Continental Owns 9% Interest in Project Through Ownership Interest in APICO LLC; Amerada Hess Announces Natural Gas Well Onshore Thailand.Business Editors NEW YORK--(BUSINESS WIRE)--June 6, 2003 Amerada Hess (Thailand) Limited, a 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. of Amerada Hess Corporation (NYSE NYSE See: New York Stock Exchange :AHC AHC Appalachian Hardwood Center AHC American Heritage Center (University of Wyoming, Laramie, WY) AHC American Horse Council AHC Association for History and Computing AHC Australian Heritage Commission AHC Assault Helicopter Company ), confirmed today that the Phu Horm-3 appraisal well on Block E5N in northeastern Thailand had encountered natural gas. An extended well test has begun. Following test results, further appraisal drilling may be required to determine the size of the reservoir and commerciality. Amerada Hess (Thailand) Limited and APICO LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , a U.S. based oil and gas company, each have a 40% interest in Blocks EU1 and E5N (following completion of a farm-in by APICO) and PTT (1) (Postal, Telegraph & Telephone) The governmental agency responsible for combined postal, telegraph and telephone services in many European countries. (2) See push-to-talk. PTT - Post, Telephone and Telegraph administration Exploration and Production Pcl, the national exploration and production company of Thailand, has a 20% interest. Continental Southern Resources(OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :CSOR CSOR Central Scotland Off-Roaders CSOR Canadian Special Operations Regiment (Canadian Forces) CSOR Computer Security Objects Register CSOR Chip Select Option Register CSOR Cumulative Steam Oil Ratio CSOR College Skills Orientation ) owns an approximate 25% interest in APICO, which equates to an approximate 9% interest in the Phu Horm Project. About Amerada Hess Corporation Amerada Hess, headquartered in New York, is a global integrated energy company engaged in the exploration for and the production, purchase, transportation and sale of crude oil and natural gas, as well as the production and sale of refined petroleum products. About Continental Southern Resources Continental has a 4.5% interest in Oklahoma's Potato Hills Deep Gas Project , operated by the GHK Company; an option to purchase a 10% interest in the Indian Prospect, an ongoing 21,000 foot Hunton test in the deep Anadarko Basin of Western Oklahoma, operated by The GHK Company, currently at a drill depth of 7,000 feet; a 25% ownership interest in Apico LLC which equates to a 9% interest in Thailand's Phu Horm project, operated by Amerada Hess (NYSE: AHC). In addition, Continental has a 50% interest in the Knox Miss Project on 125,000 gross acres in the Black Warrior Basin in Northern Mississippi and Alabama, operated by Clayton Williams Exploration (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : CWEI CWEI Combat Warfare Electronic Intelligence ); a 40% interest in the Hell Hole Bayou in Louisiana, which has already drilled two initially unsuccessful exploration wells, but which Continental believes contains several remaining prospects on approximately 900 acres that Continental intends to pursue over the next year. Continental also owns a 25% interest in Louisiana Shelf Partners, L.P. which owns shallow and deep prospects located on 3,600 acres in Cameron Parish in offshore Louisiana, and which should be drilling its initial exploration well in the next 30 days. Continental has also identified two other prospects which it will have an option to purchase from GHK, the Big O Prospect, a bypassed fractured shale gas play in the Texas-Oklahoma panhandle region, and the Mountain Front Prospect, along the frontal Wichita Mountains of Western Oklahoma. This release contains certain forward-looking statements regarding potential future events and development affecting the business of the Company. These forward-looking statements involve known and unknown risks, uncertainties or other factors not under the Company's control which may cause actual results, performance or achievements of the company to be materially different from the future results, performance, achievements or other expectations expressed or implied by these forward-looking statements. |
|
||||||||||||||||

Printer friendly
Cite/link
Email
Feedback
Reader Opinion