Matrix Successful in the Gulf of Mexico

Matrix Oil & Gas, Inc. announced that the development well drilled on West Cameron block 494 by Marine Drilling's jackup, Marine 201 was successful. The No. 1 well was drilled in 145 feet of water to a true vertical depth of 7,527 feet and encountered 62 feet of net gas pay in 4 Pleistocene sands. Plans are underway to build a support structure and pipeline so that production can begin in the first part of 2001. Matrix is the operator of this block and owns a 45 percent working interest.
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