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TEXACO HAS HEFTY STRIKE OFF MALAYSIA

April 6, 1992

A Texaco Inc. unit has tested a sizable oil discovery off Malaysia. Texaco Exploration Penyu Inc.'s 1/A Rhu wildcat flowed at a combined rate of 6,050 b/d of 34-39 gravity crude through a 1/2 in. choke from three zones at 2,602-2,672 m. The well, in 237 ft of water on Block PM-14 100 miles off Kuantan, Pahang state, was drilled by the Hakuryu III semisubmersible. It is the first discovery in the Malaysian Penyu basin and the fourth well of an exploratory drilling campaign that began on the

A Texaco Inc. unit has tested a sizable oil discovery off Malaysia.

Texaco Exploration Penyu Inc.'s 1/A Rhu wildcat flowed at a combined rate of 6,050 b/d of 34-39 gravity crude through a 1/2 in. choke from three zones at 2,602-2,672 m. The well, in 237 ft of water on Block PM-14 100 miles off Kuantan, Pahang state, was drilled by the Hakuryu III semisubmersible.

It is the first discovery in the Malaysian Penyu basin and the fourth well of an exploratory drilling campaign that began on the block in third quarter 1991.

Block PM-14 covers about 2.7 million acres and encompasses most of the Penyu basin.

Texaco plans more seismic surveys and delineation drilling to gauge the extent of the find.

Texaco holds a 37.5% interest in the block with partners Petronas Carigali 25%, Clyde Petroleum plc 22.5%, and Santos Ltd. 15%.