Forest Oil Ramps Up Redoubt Shoal Production

Forest Oil's Alaskan Kustatan onshore production facilities and electrical generators became fully operational in February 2003. The Redoubt Unit #5A was placed on production in the first quarter of 2003. The Redoubt Unit #6 was drilled, completed and placed on line in April 2003 at a rate of 881 BOPD and 1,078 BWPD. The current field production rate is approximately 4,000 BOPD from four wells. Recent activity also included repairing the electrical submersible pump in the RU #1 and completing the RU #3 as a gas well. The #3 recently tested 8.6 MMCF/D at 3,680 psi. The drilling rig is currently sidetracking the previously drilled RU #4. The current plan is to produce the RU #3 as a gas well and to complete the RU#4 as an oil well prior to commencement of drilling of the RU#7. It is currently anticipated that there will be eight completed wells at Redoubt by the end of 2003. Forest Oil has a 100% working interest in Redoubt Shoal.