EO success in US field

Enterprise Oil PLC 27 November 2001 Enterprise Oil drills successful well in US Llano field Enterprise Oil today announced that Enterprise Oil Gulf of Mexico Inc., a member of the Enterprise Oil group, has successfully completed the drilling of its first well as operator of the Llano field located in the Garden Banks area of the US Gulf of Mexico. The Llano field is located 125 miles offshore Louisiana in approximately 2,600 feet of water. The appraisal well, Garden Banks 385 No. 1, is the fourth well drilled on the discovery. The well encountered two high-quality hydrocarbon-bearing reservoirs with approximately 400 feet of total net pay. Production casing has been set at a measured depth of 24,789 feet, and the well has been suspended for future production. John McGoldrick, President Enterprise Oil Gulf of Mexico Inc. commented: 'We are very pleased with the results of the well, which we continue to evaluate as we pursue development options for the field. We will now progress our plans with co-venturers as quickly as possible to move Llano forward. We aim to complete the concept selection phase of work in the first half of 2002.' Co-venturers' interests in Garden Banks Block 385 and 386 (Llano field) are: Enterprise Oil Gulf of Mexico Inc. 27.5 percent Amerada Hess Corporation (AHC) 27.5 percent Mobil Producing Texas & New Mexico Inc., 22.5 percent an affiliate of Exxon Mobil Corporation PanCanadian Energy Corporation 22.5 percent Ends. For further information, please contact: John McGoldrick, President Enterprise Oil Gulf of Mexico +1 (713) 970 2822 Inc. Patrick d'Ancona, Head of Public Relations +44 (20) 7925 4160 Peter Reilly, Head of Investor Relations +44 (20) 7925 4229 Notes to Editors The Llano field was discovered in 1997 on Garden Banks Block 386 in the deepwater US Gulf of Mexico. The discovery well encountered several high-quality hydrocarbon-bearing sands. An appraisal well was drilled in 1999, which proved the presence of hydrocarbons more than a mile away from the original discovery. A second appraisal well was drilled in August 2000 to a depth of 24,000 feet, and was suspended as a potential producing well. Both wells were drilled on Garden Banks Block 386. Enterprise Oil Gulf of Mexico Inc. acquired its interest in the Llano acreage through its 1997 agreement with EEX. Under the agreement, $65 million was committed towards EEX's exploration drilling costs in return for an immediate assignment of 50 per cent of EEX's deepwater portfolio. In May 2001, Enterprise Oil Gulf of Mexico Inc. assumed operatorship of the Llano field from EEX. In June 2001, Amerada Hess Corporation acquired the remaining interest of EEX in the Llano field.
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