Noble Energy Makes Louisiana Discovery

Noble Energy reports that the Louisiana State Lease 340 No. 1 (Mound Point Prospect) has been drilled and evaluated to a measured depth of 19,024 feet. Evaluation of the logs and cores indicated three middle Miocene aged sands with a total of 111 feet of net natural gas pay.

Noble Energy and its partners plan to complete the Mound Point Prospect well, and production is expected to commence early in the fourth quarter of 2003. Noble Energy owns a 24.98 percent working interest in this prospect. El Paso Production Company is the operator with a 31.98 percent working interest. ChevronTexaco Corp. has a 42.98 percent working interest with the remaining partner owning .056 percent.

Noble Energy also recently spudded another deep shelf prospect, Eugene Island 317 using Diamond Offshore's jackup, Ocean Spartan. Eugene Island 317 is designed to drill to a total depth of 18,500 feet. Noble Energy is the operator with a 66.67 percent working interest. Spinnaker Exploration Company has a 33.33 percent working interest.