|Friday, September 10, 1999
Exxon Corporation’s Angola affiliate, Esso Exploration Angola (Block 17) Limited, has participated in a another deepwater discovery, Orquidea 1 on Block 17, offshore Angola. The Orquidea discovery well was drilled in 3,900 feet of water to a total depth of 8,100 feet. The well encountered oil bearing intervals totaling 157 feet. The discovery is located offshore approximately 125 miles northwest of Luanda. Including Block 17, Exxon affiliates have participated in 13 key deepwater discoveries offshore West Africa. Block 17 represents a world-class development opportunity with recoverable reserves potential in excess of 2 billion oil equivalent barrels.