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Amerada Hess Corporation (NYSE: AHC) announced today that an appraisal well drilled in the eastern portion of the Elon Field had encountered 316 feet of net oil pay in a single, continuous column. The well was drilled in 165 feet of water on Block G offshore Equatorial Guinea in the Rio Muni Basin. The successful appraisal increases the areal extent and size of the Elon Field and will be incorporated into the development plan that will be submitted to the Government of Equatorial Guinea for approval.
Amerada Hess has an 85% working interest in and is the operator of Block G and adjacent Block F. Amerada Hess' partner in the blocks is Energy Africa Ltd. of South Africa, which has the remaining 15% working interest. The government of Equatorial Guinea will have a carried 5% participating interest in any Elon Field commercial production.
Contact: Amerada Hess Corporation.......C.T. Tursi (212) 536-8593