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

To: jim_p who wrote (61836)	3/8/2000 10:29:00 PM
From: jim_p	Respond to of 95453

Noble Affiliates Announces Gas Discovery Offshore Israel ARDMORE, Okla., Mar 8, 2000 /PRNewswire via COMTEX/ -- Noble Affiliates, Inc. (NYSE: NBL) today announced its wholly owned indirect subsidiary, Samedan, Mediterranean Sea, has made a significant natural gas discovery offshore Israel. The Mari-B #1 well was drilled in 795 feet of water approximately 15 miles off the coast of Israel. The well was drilled to 6,830 feet total depth and logged approximately 550 feet of gas in one zone. Based upon log analysis, the gas bearing zone has 28 percent average porosity and 1.3 darcy average permeability. Eighty-nine feet of the zone was perforated and tested gas at the rate of 33 million cubic feet of gas per day through a 48/64 inch choke with 2,060 pounds flowing tubing pressure. Gas flow from the well was restricted by testing equipment limitations on the drilling rig. The company estimates the well would be capable of producing in excess of 100 million cubic feet of gas per day on a sustained basis with appropriate production facilities. The Mari-B #1 discovery is a follow-up to the Noa #1 discovery located eight miles to the west. It confirms the presence of commercial hydrocarbon accumulations in a large area offshore Israel. The rig will move approximately one mile to the east and commence drilling a confirmation well. Estimated drilling time is approximately 20 days. Samedan, Mediterranean Sea is operator of the well and owns a 40 percent working interest. Other owners in the well include Avner Oil Exploration Limited Partnership, 21.39 percent; Delek Drilling Limited Partnership, 23.61 percent and RB Mediterranean Ltd., a wholly owned subsidiary of R&B Falcon Corporation (NYSE: FLC), 15 percent. Noble Affiliates, Inc. is an independent energy company with exploration and production operations throughout major basins in the United States, including the Gulf of Mexico, as well as international operations primarily in Argentina, China, Ecuador, Equatorial Guinea, the Mediterranean and the North Sea. Its common stock is listed on the NYSE under the symbol "NBL". SOURCE Noble Affiliates, Inc. Jim