Newfield Exploration Company reports that the Brontosaurus No. 1 exploratory prospect offshore Australia was a dry hole. The well was drilled on Exploration Permit ACP/20 to a total depth of 12,070 feet. Newfield owns a 40 percent interest in ACP/20. Diamond Offshore's semisubmersible, Ocean General, which was used on the Brontosaurus prospect will be moved to the Jabiru Field, offshore Australia, where it will spud the first infill development well, Jabiru 14. The Jabiru 14 is expected to spud in mid-March and will be followed by an infill well in the Challis Field in late April. Newfield will operate both wells. Newfield acquired a 50 percent interest in the Jabiru and Challis Fields in mid-1999. In addition, the Company has interests in seven Exploration Permits covering about 3.0 million gross acres and plans to drill at least two additional wildcat wells offshore Australia in the Timor Sea during 2000.

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