Remington Apparent High Bidder on 2 Gulf of Mexico Offshore Lease Blocks

Remington Oil and Gas was the apparent high bidder on two offshore lease blocks at the OCS Sale 196 held in New Orleans, Louisiana. The Company's net financial exposure, if both blocks are awarded, totals $1.6 million. Remington will operate both blocks if awarded.

Of the 2 lease blocks, 1 lease block was on the shelf, and 1 lease block was in deeper water.
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