McMoRan OIL & GAS CO. ANNOUNCES DISCOVERY AT WEST CAMERON BLOCK 492.NEW ORLEANS--(BUSINESS WIRE)--Dec. 15, 1997--McMoRan Oil & Gas Co. (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 : MOXY) announced today that its West Cameron Block 492 No. 1 well has discovered 93 feet of net hydrocarbon pay in five sands. MOXY will immediately drill a second well to develop the reserves discovered by the No. 1 well and to evaluate the prospect further. The No. 1 well is being saved for future production. Working interest in West Cameron Block 492 is owned 50 percent by MOXY/FRP Exploration Program, the new multi-year $200 million exploration program owned 50 percent by MOXY and 50 percent by Freeport-McMoRan Resource Partners, Limited Partnership (NYSE NYSE See: New York Stock Exchange : FRP FRP Fremskrittspartiet (Norwegian: Progress Party; political party) FRP Fiberglass-Reinforced Plastic FRP Fiber Reinforced Polymer FRP Fibre Reinforced Polymer FRP Fleet Response Plan (US Navy) ). Through the MOXY/FRP Exploration Program, MOXY and FRP each have a 19.4 percent net revenue interest. The remaining 50 percent working interest is owned by Shell Offshore Inc. West Cameron Block 492 is located in 150 feet of water offshore in 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 , approximately 110 miles south of Lake Charles, Louisiana
Lake Charles can also refer to Lake Charles, Nova Scotia a lake in the Halifax Regional Municipality, Nova Scotia Lake Charles , and encompasses 5,000 acres. MOXY is an independent oil and gas company engaged in the exploration, development and production of oil and natural gas reserves offshore in the Gulf of Mexico and onshore in the Gulf Coast area. The company generates prospects and evaluates farmin opportunities applying its geological and geophysical expertise using 3-D seismic data and state of the art technology. CONTACT: McMoRan Oil & Gas Co., New Orleans New Orleans (ôr`lēənz –lənz, ôrlēnz`), city (2006 pop. 187,525), coextensive with Orleans parish, SE La., between the Mississippi River and Lake Pontchartrain, 107 mi (172 km) by water from the river mouth; founded Craig E. Saporito, 504/582-4476 Chris D. Sammons, 504/582-4474 |
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