February 25, 1999
(Mines and Energy)

Minister comments on encouraging results from Hebron delineation well

Roger Grimes, Minister of Mines and Energy, says he is extremely encouraged by the results from the Hebron D-94 delineation well announced today by a consortium consisting of Chevron Canada Resources, Mobil Canada, Norsk Hydro Oil and Gas Inc. and Petro-Canada.

"The successful delineation well supports our strong belief that the Hebron-Ben Nevis Complex does have development potential, and I am optimistic that further delineation drilling in this area should define sufficient oil resources to support a commercial development project," said Mr. Grimes.

The positive results from the Hebron delineation well represent an important step forward in assessing the development potential of oil resources in the area. Mr. Grimes noted that the announcement of another drilling operation by the Glomar Grand Banks on the South Nautilus prospect, located just seven kilometres northeast of the Hibernia platform, is very encouraging.

"Today's announcement of the Hebron results and an exploration well on the South Nautilus prospect demonstrates the industry's continued confidence in the significant resource potential of our offshore area," said Mr. Grimes. "I want to congratulate the companies involved and I remain confident that we will continue to hear more great news coming from the Hebron delineation program in the future."

Media contact: Carl Cooper, Communications (709) 729-4890.

1999 02 25 2:10 p.m.