TEXACO PLANS EXPLORATION ON TRACT OFF EASTERN MALAYSIA

Texaco Exploration Penyu Inc. plans an exploration program that could involve outlays of $25.25 million in a 5 year campaign in the South China Sea off Malaysia. Site will be on Block PM 14, acquired in a production sharing contract with Malaysia's state owned Petronas and Petronas subsidiary Petronas Carigali Sdn. Bhd.

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