CHIEFTAIN FIND

Chieftain International, Inc. announced today that it participated in two recent Gulf of Mexico area natural gas discoveries one on Vermilion Block 267, offshore in the Gulf of Mexico and one at the Northeast Wright Field in Vermilion Parish, onshore south Louisiana. Chieftain International, Inc. has a 60% working interest (Basin Exploration Inc. 40%) in the Vermilion 267 No.1 natural gas discovery well. The well reached a total drilling depth of 13,370 feet. The well was drilled by R&B Falcon’s jackup, Falrig 18. The well has been cased for production and design of the production facilities is in progress. Additional exploratory and development drilling is planned to fully develop the block. The Company plans to participate in drilling fifteen wells in the Gulf of Mexico and Gulf Coast region during the fourth quarter of 1999. With respect to Northeast Wright, the operator Murphy Oil Corporation announced today that the Broussard No.1 well ``encountered a significant accumulation of natural-gas-bearing reservoir rock.'' The operator said this well was drilled as a delineation well to confirm and extend natural gas reserves discovered last year in the D.W. Guidry No.1 well. Completion procedures are in progress and production from the well is expected to commence in the fourth quarter of 1999.