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

To: marc chatman who wrote (12683)	2/24/1998 8:40:00 AM
From: Teddy	Respond to of 95453

Don't look this company is planning to reduce E&P spending: AMERADA HESS OF US TO EXPLORE FOR OIL IN MALAYSIA KUALA LUMPUR - US-based Amerada Hess Corporation [NYSE:AHC - news], an independent oil and gas company, has announced plans to invest $US24.9 million (RM87.15 million) in exploration activities in Malaysia. The company will acquire a 70 percent stake in Block PM304 off Terengganu with a minimum financial commitment of $US12.9 million (RM25.15 million ) and an 80 percent equity in SK306 off Sarawak with a minimum financial commitment of $US12 million (RM42.0 million). Amerada Hess would be the operator of both blocks, Petroliam Nasional Bhd (Petronas) president and chief executive officer Mohd Hassan Marican said.