Amerada Hess Logs Pay with Ceiba Appraisal Well

Amerada Hess reports that the G-13-2 well drilled in Block G, offshore Equatorial Guinea in the Rio Muni Basin, has confirmed the G-13 discovery made in November 2002. The G-13-2 well encountered 397 feet of net oil pay. It was drilled to a total depth of 12,565 feet in 2,625 feet of water. The G-13-2 well is located about 2.3 miles southeast of the G-13 discovery well and 13 miles south of the Ceiba Field.

Brian Maxted, Senior Vice President of Global Exploration said that "this well is very encouraging and demonstrates an important extension of the G-13 discovery. It significantly increases the likelihood that this area will prove to be an important new oil fairway. Additional appraisal drilling is planned."

Amerada Hess has an 85% working interest in and is the operator of Block G. Amerada Hess' partner in the block is Energy Africa Ltd. of South Africa, which has the remaining 15% working interest. The government of Equatorial Guinea would have a carried 5% participating interest in any production from this discovery.