|Monday, September 13, 1999
Basin Exploration, Inc. has drilled another apparent discovery well in the Gulf of Mexico on West Delta Block 63. The #2 well was drilled to a true vertical depth of approximately 13,810 feet and encountered an estimated 75 net feet of oil and gas/condensate pay in multiple Miocene-aged sands below a true vertical depth of 12,000 feet. The well was drilled by Marine Drillings jackup, Marine 17. On August 3, 1999 it had been reported that the #1 well on West Delta Block 63 had an estimated 117 net feet of oil and gas/condensate pay. The #2 well tested a separate prospect in another fault block on the property. Both wells will be temporarily suspended pending completion and connection to facilities. Basin anticipates that production from the two wells on West Delta Block 63 to be established by late this year or early next year. Basin operates West Delta Block 63 with a 50% working interest. Duke Energy Hydrocarbons, LLC also owns a 50% working interest.