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PLAINS RESOURCES AND NUEVO TO JOINT VENTURE SOUTH LOUISIANA PROJECT

 HOUSTON, Aug. 17 /PRNewswire/ -- Plains Resources (AMEX: PLX) and Nuevo Energy Company (NYSE: NEV) today announced a 50/50 joint venture to drill and exploit the Four Isle Dome Field located in Terrebonne Parish, La.
 According to the companies, rights to exploit the four Isle Dome Field outside existing producing units were obtained by Plains from Mobil Exploration & Producing U.S. Inc. The field encompasses approximately 15,000 acres and is located in the shallow piercement salt dome trend of southern Louisiana. "The Four Isle Dome has produced approximately 550 billion cubic feet of natural gas and 20 million barrels of condensate from over 40 different pay sands since its discovery in 1934," a company spokesperson said.
 "The companies intend to drill the first well in the venture during the third quarter of 1993," said Greg L. Armstrong, president and CEO of Plains Resources. "The well will be drilled to a total depth of 15,500 feet and will evaluate 13 potential pay sands in what is believed to be an untested fault block at the objective horizons," he said. "We are contemplating shooting a three dimensional seismic survey across the dome during 1994," Armstrong also stated.
 Plains Resources is an independent energy company engaged in the exploration, acquisition, development and exploitation of crude oil and natural gas and the downstream activities of marketing, transportation and storage of crude oil.
 -0- 8/17/93
 /CONTACT: Phillip D. Kramer, CFO or Nancy J. Kerby, director, investor relations of Plains Resources, 713-654-1414/
 (PLX NEV)


CO: Plains Resources; Nuevo Energy Company ST: Texas IN: OIL SU: JVN

WB -- NY037 -- 3482 08/17/93 10:59 EDT
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Publication:PR Newswire
Date:Aug 17, 1993
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