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Governor Encouraged By Kerr McGee-Anderson Test Well Results


March 18, 2005

Juneau, Alaska - The state is encouraged by news of successful test wells drilled by Kerr McGee Corp. and Armstrong on Alaska's North Slope. The two independent producers have found oil prospects on previous leased land, Governor Frank H. Murkowski said.

"I've made it a priority to attract new oil and gas investors to Alaska's prolific oil and gas basins and the work of Kerr McGee and Armstrong over the past two years demonstrates that new operators can successfully permit and execute major programs in Alaska," Murkowski said.

Kerr McGee and Armstrong announced on Tuesday successful tests of the Schrader Bluff reservoir at its Nikaitchuq No. 4 horizontal appraisal well and at its Tuvaaq exploration well. The Nikaitchuq 4 well tested at rates of up to 1,200 barrels of oil per day during its initial test. Kerr McGee said in its own press statement that the Schrader Bluff interval could be developed throughout much of its 36,000 acres in the Nikaitchuq and Tuvaaq area.

This winter, the companies successfully delivered last year's discoveries in the Schrader Bluff and Sag River formations. These two areas just offshore of Milne Point were previously leased by a major North Slope producer, which made them available to third parties.

"This is the second year that the Kerr McGee-Armstrong partnership has conducted a two-rig offshore drilling program. Their success demonstrates that Alaska still has world class reserves, some of which are in close proximity to fields that have been operating for decades," Murkowski said.

Murkowski said the success of the Kerr McGee-Armstrong partnership demonstrates the importance of making new explorers feel welcome in Alaska.

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