Westport Participates in GOM Shelf Exploration

Westport Resources has entered into a multi-prospect Gulf of Mexico exploration participation agreement with ChevronTexaco. ChevronTexaco and Westport have identified nine firm prospects to date and expect to add a number of additional prospects over the next two years. Westport will participate for 45% of the interest held by ChevronTexaco and anticipates spending approximately $40 million on these first nine prospects. The first well is expected to spud in the third quarter of 2003.

"This program targets high-impact prospects, primarily in offshore deep shelf plays, and complements Westport's lower-risk onshore development activities," commented Don Wolf, Chairman and Chief Executive Officer of Westport. "With our flexible balance sheet and strong cash flow, we are well positioned to participate in this large scale program. ChevronTexaco has developed an extensive portfolio of high quality exploration ideas across the shelf and we look forward to participating with them in this program."

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