|Tuesday, April 11, 2000
Atwood Oceanics semisubmersible, Eagle has drilled another successful appraisal well offshore Israel, the Mari-B #2 well. This appraisal well was drilled approximately 1 mile east of the Mari-B #1 well, which encountered over 550 feet of gas pay. The Mari-B #2 well was drilled in 665 feet of water and reached a total depth of 6,372 feet. The #1 well tested gas at a rate of 33 million cubic feet of gas per day. It is estimated that each well should be able to produce in excess of 100 million cubic feet of gas per day through the appropriate production facilities. Samedan, Mediterranean Sea is operator of the well and owns a 40 percent working interest. Other owners in the well include Avner Oil Exploration Limited Partnership, 21.39 percent; Delek Drilling Limited Partnership, 23.61 percent and RB Mediterranean Ltd., a wholly owned subsidiary of R&B Falcon Corporation, 15 percent. This joint venture holds oil and gas interests in 1,062,675 acres offshore Israel.