Amerada Hess Drills Duster at Wembley Prospect

Mississippi Canyon 722
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Amerada Hess reports that its Wembley #1 well, located in Mississippi Canyon Block 722 in the Gulf of Mexico, reached a total measured depth of 29,212 feet and failed to encounter commercial quantities of hydrocarbons. The well has been plugged and abandoned.

Amerada Hess, operator of the Wembley well, will expense the costs of the well in the first quarter of 2005. Estimated net costs are $65 million before tax, or $42 million after tax.

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