|Friday, November 12, 1999
Samson Offshore Company of Houston, Texas, announced that it has purchased over 81,800 net leasehold acres located on 30 exploratory Gulf of Mexico blocks from Barrett Resources Corporation. The blocks are located off the coasts of Louisiana and Texas. They provide both shallow and deep-water exploration opportunities. Samson is currently designated as Operator on twelve of these blocks. The Company expects that drilling will commence on selected blocks early next year. "This is the first of many steps Samson Offshore plans to take to build a significant presence in the Gulf of Mexico. It is an important milestone for our Houston office, which was established one year ago to focus on growing our South Louisiana and Gulf of Mexico activities," stated Tom Dimelow, Samson Offshore's President. Samson Offshore Company is a subsidiary of Samson Investment Company headquartered in Tulsa, Oklahoma. Samson is engaged primarily in oil and gas exploration and production operations in the United States, Canada, Venezuela and Russia, and has business activities outside of the energy industry.