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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 (67661)	6/6/2000 8:52:00 AM
From: jim_p	Read Replies (1) \| Respond to of 95453

The contract awards are starting to roll in, should be a good day for HOFF. Horizon Offshore Awarded Chevron Pipeline Project HOUSTON, Jun 6, 2000 /PRNewswire via COMTEX/ -- Horizon Offshore, Inc. (Nasdaq: HOFF) today announced that it has been awarded a contract by Chevron USA Production, Inc., which includes the installation of two production platforms as well as the lay and bury of multiple pipelines in the Gulf of Mexico. Horizon will utilize the derrick barge, the Pacific Horizon, for the platform installations and its pipelay-bury barge, the Brazos Horizon, to install the pipelines. The project is scheduled for completion during the third quarter of 2000. "The award of this project is significant, as it demonstrates Horizon's ability to perform projects involving both structural and pipeline components, integrating the services we provide our clients," said Bill Lam, President and CEO. Horizon Offshore provides marine construction services to the offshore oil and gas industry. The company's fleet is used to perform a wide range of marine construction activities, including installation of marine pipelines to transport oil and gas from newly installed production platforms and other subsea production systems, and the installation and abandonment of production platforms. This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which involve known and unknown risk, uncertainties and other factors. Among the factors that could cause actual results to differ materially are industry conditions and volatility; prices of oil and gas; the Company's ability to obtain and the timing of new projects; changes in competitive factors; and other material factors that are described from time to time in the Company's filings with the Securities and Exchange Commission. Actual events, circumstances, effects, and results may be materially different from the results, performance or achievements expressed or implied by the forward-looking statements. Consequently, the forward-looking statements contained herein should not be regarded as representations by Horizon or any other person that the projected outcomes can or will be achieved. SOURCE Horizon Offshore, Inc.