Pioneer Reports Two New Discoveries

Pioneer Natural Resources Company reports continued success with its drilling program in the Edwards Trend in South Texas. Two new fields have been discovered in the trend, bringing total discoveries in the Edwards expansion area to eight.

The two new wells encountered 150 feet to more than 200 feet of vertical gas pay. An appraisal well is currently drilling on one of the discoveries where 3-D seismic is available. Appraisal of the second discovery will begin after 3-D seismic data has been acquired and interpreted in 2008.