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UMC WELL TESTS 30 MMCF OF GAS AND 700 BARRELS OF CONDENSATE OFFSHORE COTE D'IVOIRE

 HOUSTON, Dec. 3 /PRNewswire/ -- United Meridian Corp. (UMC) (NYSE: UMC) today announced that a well in which the company holds a 28-percent working interest on Block CI-11 offshore Republic of Cote d'Ivoire tested 30 million cubic feet (MMcf) of gas and over 700 barrels of condensate per day. The test rate was gauged on a 56/64-inch choke with a flowing pressure through 3-1/2 inch tubing of 1,909 pounds per square inch from 66 feet of perforations between 9,316 and 9,382 feet. The well was drilled eight miles off the Ivorian coast in 264 feet of water.
 UMC's President John Brock said, "We are very pleased with our Cote d'Ivoire well, the Panthere No. 1, which is the company's first venture in the international arena. Of the three wells previously drilled by others in the Panthere area, two tested substantial quantities of gas from this sand and the third had indicated log pay. As to our planned drilling activity, Panthere No. 1 was drilled first at this location to prove up a common natural gas reservoir and large areal extent, as interpreted by UMC through analysis of the prior well data and 3-D seismic. Panthere's strong test rates, along with the results of the earlier wells, have demonstrated a large productive area of natural gas.
 "The drilling rig is now setting a caisson platform at the Panthere No. 1 location, and then it will immediately move west to drill the Lion prospect, which is our principal oil target on the block," Brock explained.
 UMC has scheduled meetings with the International Finance Corp. (IFC), PETROCI, the national oil company in Abidjan, and other interested parties to present its gas development project.
 UMC is operator and holder of a production sharing contract for Block CI-11 through a subsidiary, UMIC Cote d'Ivoire Corp. Other working interest owners are PETROCI, IFC, Global Natural Resources Corp. and Pluspetrol S.A.
 UMC is a Houston-based independent energy company engaged in the acquisition, exploration and development of natural gas and crude oil properties in the United States and Canada. The company also has other exploration activities in Western Africa. The company's common stock is traded on the New York Stock Exchange (symbol UMC).
 -0- 12/3/93
 /CONTACT: Jeanne Buchanan of UMC, 713-653-5095/
 (UMC)


CO: United Meridian Corp. ST: Texas IN: OIL SU:

BB -- DV001 -- 0139 12/03/93 10:09 EST
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Publication:PR Newswire
Date:Dec 3, 1993
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