press release

Unocal undertakes Alaska seismic program

Anchorage, April 23, 2001 - Unocal Corporation's Alaska unit said today it is undertaking a seismic program north of Ninilchik. Fairweather Geophysical, in a joint venture with Kuukpik Corporation, will conduct a survey over the next four weeks. The survey will involve a helicopter, several seismic crews and a boat for the offshore portion.

The seismic activity will be low impact. Special equipment brought in by helicopter eliminates the need to clear trees or drive vehicles. Seismic surveys involve sending small amounts of energy into the earth and measuring the reflected vibrations to help identify potential underground hydrocarbon structure.

"Unocal believes there is still significant hydrocarbon potential in the Cook Inlet and on the Kenai Peninsula," said Chuck Pierce, vice president for Unocal Alaska. "We are taking the first steps in expanding our exploration program in the Ninilchik area to add new natural gas resources to ensure that gas supplies are available to meet not only current needs, but future needs as well."

Updated: April 2001