Enterprise Successful at Llano

Enterprise Oil has successfully completed the drilling of its first well as operator of the Llano field located in the Garden Banks area of the US Gulf of Mexico. The Llano field is located 125 miles offshore Louisiana in approximately 2,600 feet of water.

The appraisal well, Garden Banks 385 No. 1, is the fourth well drilled on the discovery. The well encountered two high-quality hydrocarbon-bearing reservoirs with approximately 400 feet of total net pay. Production casing has been set at a measured depth of 24,789 feet, and the well has been suspended for future production.

John McGoldrick, President Enterprise Oil Gulf of Mexico Inc. commented: “We are very pleased with the results of the well, which we continue to evaluate as we pursue development options for the field. We will now progress our plans with co-venturers as quickly as possible to move Llano forward. We aim to complete the concept selection phase of work in the first half of 2002.” Co-venturers in Garden Banks Block 385 are Enterprise as operator with 27.5 percent; Amerada Hess with 27.5 percent; ExxonMobil with 22.5 percent and PanCanadian with the remaining 22.5 percent.