Gulf of Mexico
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Remington Oil and Gas was the apparent high bidder on two offshore lease
blocks at the OCS Sale 196 held in New Orleans, Louisiana. The
Company's net financial exposure, if both blocks are awarded, totals
$1.6 million. Remington will operate both blocks if awarded.
Of the 2 lease blocks, 1 lease block was on the shelf, and 1 lease block
was in deeper water.
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