TEXACO HITS

Texaco has made a shallow water oil discovery offshore China in Bohai Bay. The Bozhong 25-1-8 well was drilled by China Offshore Northern Drilling Company's jackup, Bohai VI to a total depth of 7,134 feet in 57 feet of water and encountered 115 feet of net pay. This discovery is located in block 11/19 which is approximately 90 miles south of the Port of Tianjin. Texaco hold a 100 percent interest in the block.
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