AMERADA: TYPICAL '90s FIND NOT VIABLE WITH NEW TAX REGIME

Angus oil field, on U.K. North Sea Block 31/26a, typifies the North Sea development of the future, contends Amerada Hess Ltd. (AHL). And Angus, which started up in December 1991, would not have been developed under proposed U.K. budget tax reforms, said AHL Managing Director Sam Laidlaw. There may be major finds west of the Shetland Islands, he said, but the most likely commercial discovery will be small, marginal fields such as the 10 million bbl Angus.

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