Remington Hits in the Gulf of Mexico

Remington Oil and Gas announced that is has made a discovery in the U.S. Gulf of Mexico. The well, which is located in East Cameron 305, has logged 80 feet of pay in three sands. Marine Drilling's jackup, Marine 16 drilled the well in 193 feet of water. Remington Oil and Gas is the operator of the block with a 75 percent interest and Magnum Hunter holds the remaining 25 percent. The well will be temporarily abandoned and plans to set a platform are underway. First production is expected to begin in the third quarter of 2001.