U.S. INDEPENDENT SIGNS MONGOLIAN E&D PACT

Mongolia's Mongol Petroleum Co. (MGT) and Nescor Energy Co., Austin, have signed a joint venture agreement giving Nescor exploration and development rights in the East Govi basin of Southeast Mongolia. Nescor's area of interest, covering five blocks, includes Mongolia's only significant hydrocarbon discoveries, Zuunbayan and Tsagaan Els. Nescor and MGT will concentrate first efforts on starting production from Tsagaan Els.