Magnum Hunter Resources has participated in a new field discovery in the Gulf of Mexico at West Cameron 472. The well was drilled by Rowan Companies' jackup, Rowan Texas. The West Cameron 472 #1 well was drilled to a depth of 6,554 feet and encountered two gas productive sands. Both zones have been completed and flow tested at a combined rate of 11 million cubic feet of natural gas equivalents per day. A caisson production structure is in the process of being installed, with initial production expected to commence sometime during the first quarter of 2004. Magnum Hunter owns a 50% working interest in West Cameron 472.
Remington Oil & Gas Corp. owns the remaining 50% working interest and is the operator.