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Amerada Hess Corporation (NYSE: AHC) has participated in a successful appraisal well drilled by Enterprise Oil Gulf of Mexico on the Llano Field which is located 125 miles offshore Louisiana in approximately 2,600 feet of water. The appraisal well, the Garden Banks 385 No. 1 well, is the fourth well drilled on the discovery and encountered approximately 400 feet of total net pay in two high-quality hydrocarbon-bearing reservoirs, the best reservoirs encountered in the field to date. Production casing has been set at a measured depth of 24,789 feet, and the well has been suspended for future production.
Development options for the field are being analyzed, with project sanction expected in the first half of 2002.
Co-ventures interests in Garden Banks Block 385 and 386 (Llano Field) are:
| Amerada Hess Corporation (NYSE: AHC) | 27.5 percent |
| Enterprise Oil Gulf of Mexico Inc. (Operator) | 27.5 percent |
| Mobil Producing Texas & New Mexico Inc., an affiliate of Exxon Mobil Corporation |
22.5 percent |
| PanCanadian Energy Corporation | 22.5 percent |
Contact: Amerada Hess Corporation.......C.T. Tursi (212) 536-8593