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NUEVO ENERGY COMPANY AND PLAINS RESOURCES TO JOINT VENTURE SOUTH LOUISIANA PROJECT

 HOUSTON, Aug. 17 /PRNewswire/ -- Nuevo Energy Company (NYSE: NEV) and Plains Resources (AMEX: PLX) today announced their intent to explore jointly certain untested fault blocks in the Four Isle Dome Field, a 15,000-acre shallow piercement salt dome located in Terrebonne Parish, La.
 This field has experienced significant development success since its discovery, with cumulative production levels of approximately 550 billion cubic feet of gas and 20 million barrels of condensate. Rights to exploit the field beyond existing producing units were obtained by Plains from Mobil Exploration and Producing U.S. Inc.
 Nuevo and Plains plan to drill an initial evaluation well to a total depth of 15,500 feet during the third quarter of this year. The well will enable the two companies to evaluate 13 prospective Miocene sands in untested fault blocks. Upon completion of this initial well, the companies will elect to proceed with 3-D seismic testing or drill a confirmation well.
 "We are excited about the outstanding reserve potential associated with this project," said J.P. Bryan, chairman and chief executive officer of Nuevo. "I am particularly pleased that the geological structure involved allows our exploration team to utilize advanced 3-D seismic technology to pursue recoverable reserves in untested traps."
 Nuevo is an independent energy company primarily engaged in the acquisition, development, production and exploration of oil and gas properties. Nuevo also owns interests in a natural gas processing plant and gas pipeline, gathering and storage systems. Nuevo's oil and gas properties are primarily located in East Texas, the onshore and offshore areas of the Gulf Coast and Alabama.
 -0- 8/17/93
 /CONTACT: John C. Vanderhider, vice president-Finance of Nuevo Energy, 713-652-0706/
 (NEV PLX)


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

BR-RA -- AT003 -- 3428 08/17/93 09:20 EDT
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Publication:PR Newswire
Date:Aug 17, 1993
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