TEX/CON, SPUN OFF FROM BP, UP AND RUNNING

BP Exploration Western Hemisphere has spun off its U.S. Lower 48 onshore exploration/development and gas gathering, transportation, and marketing assets into an independent company named Tex/Con Oil & Gas Co. Tex/Con's president is William J. Johnson, former president of BP Exploration Inc. The new company is governed by a board of directors with BP holding a majority of seats. Otherwise, Tex/Con, Houston, will operate independently of BP. "We're not just a bundle of assets and some

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