Hess Discovers Gas at Glencoe-1

Hess Corporation announced that the Glencoe-1 exploration well on Australia's Northwest Shelf discovered natural gas in Upper Jurassic sandstones. The well encountered 92 feet (28 meters) of net gas pay, in line with pre-drill estimates and nearby Jurassic discoveries. Glencoe-1 is the first of four exploration wells being drilled on the WA-390-P Permit by Hess in 2008.

"While recognizing this well is only the first in our WA-390-P Permit, the result is very encouraging," said John O'Connor, Hess President of Exploration and Production. Glencoe-1 was drilled in 3,678 feet (1,121 meters) of water by the semisubmersible Jack Bates. Following the completion of the Glencoe-1 well, the Jack Bates rig will move 14 kilometers east to drill the Briseis prospect. The Briseis-1 well will test a separate structure in the same permit.

Hess holds a 100 percent interest in the 780,000 acre WA-390-P Permit.

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