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TransTexas' Lodgepole Discovery Well in North Dakota Producing to Sales at 4,500 Barrels of Oil Per Day.

HOUSTON--(BUSINESS WIRE)--Nov. 26, 1996--TransTexas Gas Corporation (NASDAQ NMS: TTXG) today announced that current production of its Heart River No. 1 discovery well, located in Dickinson, North Dakota, had confirmed the discovery of a productive oil field.

The well is flowing light, 41 degree A.P.I. gravity, sweet oil at a sustained rate of 4,500 barrels per day (Bopd) from the Lodgepole formation, through a 44/64-inch choke with flowing tubing pressure of 575 pounds per square inch (p.s.i.). TransTexas had previously reported that the Heart River No. 1 encountered 308 feet of carbonate Lodgepole reef, containing an oil column of approximately 140 feet. The company said that it expects to conduct an optimized flow-test within the next week after adding additional perforations in the productive zones.

Arnold Brackenridge, company president, commented, "Based upon the production from the Heart River No. 1, drilling results of a first delineation well and 3-D seismic information, we estimate that this field may ultimately prove to contain as much as 10-12 million barrels of oil. This represents an excellent return on our $40 million in capital expenditures."

The company said that in addition to the Heart River No. 1, it is drilling an offsetting delineation well, the Dinsdale No. 2-4, that it believes has penetrated the reef and expects to conclude and log within the week. A third well, the Dinsdale No. 1-3 is scheduled to commence drilling from the same pad in early December and is anticipated to further expand this new field. The field is located along trend from the large Conoco/Duncan Eland field, to the south-west and the Conoco Dickinson field to the north-west. TransTexas will be the operator, with an average working interest of approximately 80 percent. Privately-held, unaffiliated, third-party companies, with mineral interests in the Williston Basin of North Dakota, hold the balance of 20 percent working interest.

The company further said that as a result of the additional production available with its new pipeline connection with Koch in North Dakota and incremental Bob West North natural gas production in Texas, its daily gross production capacity has increased 53 percent from Aug. 1, 1996 to approximately 800 million cubic feet of natural gas equivalent. TransTexas Gas is engaged in the exploration, production and transmission of natural gas, primarily in south Texas. Except for the historical information contained herein, the matters set forth in this news release may contain forward looking statements that involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward looking statements. Potential risks and uncertainties include such factors as fluctuations in natural gas and crude oil pricing over which the company has no control, the ultimate success of exploration drilling programs, the competitive nature of the oil and gas exploration, development and production industries and the uncertainties associated with the drilling, completing and operating of natural gas and oil wells. Investors are directed to consider such risks and other uncertainties discussed in documents filed by the company with the Securities and Exchange Commission.

CONTACT: Simon Ward, TransTexas Gas Corporation, 713/987-8600

or 713/986-8865 (Fax)
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Publication:Business Wire
Date:Nov 26, 1996
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