Hess discovers Australian shelf gas

Hess Corp. has discovered natural gas in Jurassic and Triassic sandstones in the Briseis-1 exploration well on Australia's northwest shelf.

Offshore staff

NEW YORK -- Hess Corp. has discovered natural gas in Jurassic and Triassic sandstones in the Briseis-1 exploration well on Australia's northwest shelf. The well encountered 151 ft (46 m) of net gas pay, in line with pre-drill estimates.

Briseis-1 was drilled in 3,668 ft (1,118 m) of water by the semisubmersibleJack Bates. Following the completion of the Briseis-1 well, Jack Bates will move 25 km (15.5 mi) southwest to drill the Nimblefoot prospect. The Nimblefoot-1 well will test a separate structure in the same permit.

Briseis-1 is the second of four exploration wells being drilled on WA-390-P in 2008. The first well, Glencoe-1, was announced as a discovery on June 10, 2008.

"While we are still in the early stages of our exploration program in Australia, the results of these first two wells reinforce our view of the high impact potential of the WA-390-P permit," said John O'Connor, Hess President of E&P.

Hess holds 100% interest in the 780,000-acre WA-390-P.

07/21/2008

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