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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Tomas who wrote (60828)	2/24/2000 9:11:00 AM
From: Think4Yourself	Read Replies (1) \| Respond to of 95453

This might give PXD a boost today. Stock just completed a huge selloff last week. Pioneer Announces Drilling Success in Argentina DALLAS--(BUSINESS WIRE)--Feb. 24, 2000--Pioneer Natural Resources Company (``Pioneer')(NYSE:PXD - news; TSE:PXD - news) today announced exploratory and developmental drilling success in its international core area in Argentina. Pioneer's first well drilled on new Neuquen Basin acreage acquired late last year was a discovery. The well was drilled on a new structure defined by 3-D seismic and is flowing 450 barrels of oil per day (BOPD) at a depth of approximately 1,500 meters. The well, Borde Colorado 1006, is in the Al Sur de la Dorsal block (100% working interest) acquired in November 1999 and was drilled adjacent to two producing fields. This discovery sets up three to four additional wells to be drilled this year. In total, Pioneer plans to drill 14 wells this year on its newly acquired blocks. In the Al Norte de la Dorsal area, Pioneer's 2000 drilling program includes about 50 new wells. Two wells completed thus far in the Huincul block (100% working interest) have significantly exceeded expectations. The H-139 well tested at 320 BOPD and .4 million cubic feet per day (MMCFPD), or 380 barrels of oil equivalent per day (BOEPD). The H-140 tested at 1.2 MMCFPD and 140 BOPD, or 340 BOEPD. The Company is also continuing to shoot and process new 3-D seismic data on both its original Dorsal area blocks and on its newly acquired acreage further expanding its inventory of drilling locations for future exploration and development. ...