Remington Makes Two Gulf of Mexico Discoveries

Remington has recently made two discoveries in the Gulf of Mexico. The West Cameron Block 426 #1 tested at 9 mmcfe/day and was drilled by the Rowan Texas. The second discovery was made at East Cameron 377 by the Rowan Midland. First production for both discoveries is expected in early 2003. Remington holds a 50% working interest in West Cameron 426 and a 75% working interest in East Cameron 377.