ChevronTexaco discovers oil, gas in Gulf of Thailand

Chevron Offshore (Thailand) Ltd. (COTL) has completed exploration and appraisal drilling on Block G4/43 in the northern Gulf of Thailand 125 miles south of Bangkok.

July 22, 2004

By OGJ editors

HOUSTON, July 22 -- Chevron Offshore (Thailand) Ltd. (COTL) has completed exploration and appraisal drilling on Block G4/43 in the northern Gulf of Thailand 125 miles south of Bangkok.

Exploration well Lanta No. 1 was drilled to 10,358 ft MD and found 280 ft of oil and gas pay. Appraisal well Lanta No. 2, drilled to 10,040 ft MD, found 194 ft of oil and gas pay.

Block G4/43 is in less than 250 ft of water and covers about 9,600 sq km. The block lies next to Block B8/32, where COTL-operated production averages 46,000 b/d of oil and 230 MMscfd of gas from the Benchamas trend.

Thailand awarded the concession to COTL (operator, with 85% interest) and PTTEP International Ltd. (15% interest) in mid-2003 (OGJ Online, June 2, 2003).