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NUEVO ENERGY COMPANY AND PARAMOUNT PETROLEUM COMPANY ANNOUNCE GAS DISCOVERY

 HOUSTON, March 19 /PRNewswire/ -- Nuevo Energy Company (NYSE: NEV) and its wholly owned subsidiary Paramount Petroleum Company reported that an exploratory well in the Gulf of Mexico on South Pass 34 has successfully logged 77 net feet of productive gas sand.
 Nuevo owns a 30 percent working interest in the block with operator Energy Development Corporation owning 35 percent and The Louisiana Land & Exploration Company (NYSE: LLX) 35 percent.
 The well will be temporarily abandoned in order to test an offset prospect located on South Pass Block 47. The results of that test will ultimately decide the optimum location of a production platform. Ownership in South Pass 47 is the same as in South Pass 34.
 Nuevo Energy Company is an independent oil and gas company primarily engaged in the production, development and acquisition of oil and gas properties, principally in Texas, Louisiana, Alabama and in the Gulf of Mexico.
 -0- 3/19/93
 /CONTACT: John Vanderhider, vice president of finance of Nuevo Energy Company, 713-652-0706/
 (NEV LLX)


CO: Nuevo Energy Company; Paramount Petroleum Company ST: Texas IN: OIL SU: DSC

RA-BN -- AT002 -- 7825 03/19/93 10:30 EST
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Publication:PR Newswire
Date:Mar 19, 1993
Words:190
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