Hess finds more oil offshore Ghana

Hess Corp. (NYSE:HES) has discovered oil offshore Ghana at the Pecan 1 exploration well in the Deepwater Tano/Cape Three Points license.

Offshore staff

NEW YORK –Hess Corp. (NYSE:HES) has discovered oil offshore Ghana at the Pecan 1 exploration well in the Deepwater Tano/Cape Three Points license.

The well found 245 net ft. (75 m) of pay in two Turonian intervals. The well was drilled to TD of 15,420 ft. (4,700 m) in 8,245 ft. (2,513 m) water depth. The well was side tracked to get bypass cores and is being suspended.

Pecan-1 is Hess’ fifth discovery on the block and follows the previously announced discoveries at Almond, Beech, Hickory North, andParadise.

Hess next plans to drill the Cob prospect, located approximately 15 mi. (24 km) northeast of the Pecan-1 discovery.

Pre-development and further exploration activities are planned in 2013, says Hess.

Hess holds 90% and the Ghana National Petroleum Corp. holds 10%.

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12/12/2012

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