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TEXACO JOINT VENTURE ANNOUNCES OIL AND GAS DISCOVERY IN TUNISIA

 TEXACO JOINT VENTURE ANNOUNCES
 OIL AND GAS DISCOVERY IN TUNISIA
 CORAL GABLES, Fla., Aug. 17 /PRNewswire/ -- A joint venture led by Texaco (NYSE: TX) has discovered crude oil in the El Jem Permit, Tunisia, it was announced today by Clarence P. Cazalot, Jr., President of Texaco's Latin America/West Africa Division.
 The El Jem-1 well tested at a daily rate of 3,600 barrels of oil and 3.7 million cubic feet of gas on a 7/16-inch choke. The 42-degree API gravity crude flowed from a zone between 3,350 meters (10,990 ft.) and 3,423 meters (11,230 ft.) from the Upper Cretaceous Bireno formation carbonates. Extensive evaluation is planned to quantify the potential of this discovery.
 The well, drilled to a total depth of 4,003 meters (13,134 ft.), is the first exploration well drilled by the joint venture on the 987,000- acre El Jem Permit and is located onshore approximately 170 kilometers (106 miles) south of Tunis.
 Exploration activities on the El Jem Permit are being conducted by a joint venture involving Texaco Exploration El Jem Tunisia Inc., a wholly owned subsidiary of Texaco as operator with a 60-percent interest, and Conquest Exploration Tunisia Inc., a wholly owned subsidiary of American Exploration Company with a 40-percent interest. Note to Editors: A map is available upon request.
 -0- 8/17/92
 /CONTACTS: Leda Perez of Texaco, 305-529-4574 or Frank Murphy of American Exploration, 212-230-0344/
 (TX) CO: Texaco, Inc. ST: New York, Florida IN: OIL SU: DSC


DC -- NY077 -- 0662 08/17/92 16:35 EDT
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Publication:PR Newswire
Date:Aug 17, 1992
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