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Gold/Mining/Energy : Conoco (COC) - The biggest U.S. IPO ever -- Ignore unavailable to you. Want to Upgrade?

To: Bwoo who wrote (36)	1/14/1999 1:20:00 PM
From: Night Writer	Respond to of 123

Welcome to SI and the thread. I knew if I kept talking somebody would answer. I'm in at about 25, and think a turn around in oil will shoot this stock up sharply. Also expect they will start paying dividend at some point after totally divested from DuPont.<g> NW

To: Bwoo who wrote (36)	1/15/1999 12:33:00 AM
From: Night Writer	Read Replies (1) \| Respond to of 123

Conoco Signs Indonesia/Singapore Block B Gas Agreement JAKARTA, Indonesia, Jan. 15 /PRNewswire/ -- Conoco Indonesia Inc., other West Natuna Sea operators and Pertamina, the state oil company of Indonesia, and a consortium led by Sembawang Engineering and Construction Pte. Ltd. of Singapore, have signed all agreements required for the long-term delivery of natural gas from Indonesia to Singapore for the first time. The project, to build the largest international natural gas supply and delivery system in Asia Pacific, also is expected to stimulate further demand for natural gas and the development of known natural gas reserves in the West Natuna Sea. The signing culminates two years of planning to develop a project capable of delivering 325 million cubic feet of natural gas per day from Indonesia's West Natuna Sea gas fields to Singapore by 2001. This will be the first international sale of pipeline natural gas from Indonesia and will provide Singapore with a clean burning fuel for future industry growth. The gas, produced from West Natuna Sea fields operated under production sharing contracts by Conoco Indonesia Inc. (Block B), Gulf Resources (Kakap) Ltd. (Kakap Block) and Premier Oil Natuna Sea Limited (Block A), will be delivered through a 28-inch, 300-mile sub-sea pipeline to Pulau Sakra in Singapore. The gas will be used primarily to generate electricity in Singapore. Conoco Indonesia Inc. will manage the construction of the pipeline and will be the operator when the system comes on stream. "The finalization of this agreement is a milestone in the development and international commercialization of Indonesia's natural resources," said Rob McKee, Conoco's executive vice president, exploration production. "Conoco played an integral role in bringing producers, suppliers and consumers together to make this visionary project a reality. Indonesia's valuable, but currently under-utilized natural gas resources, can now be used as an economic fuel to power Singapore's industry growth," he added. "The fact this project is moving forward despite the current Asian economic situation demonstrates the importance of the project to all parties and demonstrates Conoco's commitment to maintaining a long-term presence in the region," McKee emphasized. McKee said the project was being designed to meet increased customer demand. "The pipeline's capacity can meet anticipated demands and West Natuna Sea reserves are more than sufficient to meet market growth. We are confident that natural gas will play a major role in the growth of the region's economy," he stressed. Construction of the 300-mile pipeline is expected to begin in early 1999. Conoco Indonesia is a wholly owned subsidiary of Conoco Inc. (NYSE: COC), a major, integrated energy company based in Houston and active in 40 countries. This news release contains certain forward-looking statements regarding production rates and other matters. These statements are not guarantees of future performance, involve certain risks, uncertainties and assumptions that are difficult to predict, and are based upon assumptions as to future events that may not prove accurate. Therefore, actual outcomes and results may differ materially from what is expressed herein. Such matters are detailed in Conoco's publicly available filings with the Securities and Exchange Commission. SOURCE Conoco Inc. CO: Conoco Inc.; Conoco Indonesia Inc.; Sembawang Engineering and Construction Pte. Ltd. of Singapore; Pertamina; Gulf Resources (Kakap) Ltd.; Premier Oil Natuna Sea Limited ST: Texas, Indonesia, Singapore IN: OIL SU: CON 01/15/99 00:23 EST prnewswire.com