Remington Brings Deep Shelf Discovery Onstream

Remington Oil and Gas' South Marsh Island 24 discovery recently commenced production, and on June 2, 2003, was producing at a rate of 20 million cubic feet of gas and 800 barrels of condensate per day. This Deep Shelf discovery was brought online within four months from the initial testing of the well. With these new volumes, the company expects daily production volumes for the second quarter to range from 90 to 94 million cubic feet of gas equivalents per day. Annual production for 2003 remains within prior guidance estimated between 35 and 37 BCFE for the year.