press release

Unocal's Spirit Energy 76 Makes Oil Discovery in Louisiana's West Deer Island Field

Sugar Land, Texas, Oct. 6, 1997 Spirit Energy 76, Unocal Corporation's Lower 48 exploration and production business unit, today announced an oil discovery in Terrebonne Parish, Louisiana.

The discovery well, the Lacoste No. 1 Sidetrack No. 2, tested at an average daily rate of 1,068 barrels of oil and 3.3 mmcf of gas through a 16/64-inch choke. Flowing tubing pressure was 5,986 pounds per square inch.

The well was drilled to a total depth of 13,603 feet measured depth and 12,991 feet total vertical depth and was completed in a producing horizon between 13,385 feet and 13,391 feet. Production is expected to begin December 1997, once production facilities are completed.

Spirit Energy holds a 40 percent working interest in the well. Howell Petroleum Corporation has a 26.66 percent interest; Voyager Petroleum, Inc., has a 10 percent interest; Sunbelt Energy, Ltd. has a 10 percent interest; Falcon Seaboard Oil and Gas, L.P. has a 9.34 percent interest; and J. Michael Muckleroy, et al. has a 4 percent interest. Howell Petroleum Corporation is the operator.

Spirit Energy 76 operates 300 offshore platforms, 2,700 active wells in 355 fields, and is the third largest producer in the U.S. Gulf of Mexico. In 1996, the company produced an average of 912 mmcf of gas and about 52,000 barrels of oil per day.

Updated: October 1997