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NEWS BULLETIN

May 20, 2004 --- Vol. 10, No. 50May 2004

Interest in offshore ANWR test well spurs decision to extend contract deadline

The Alaska Division of Oil and Gas has again extended the completion date for the offshore ANWR test well planning and program promotion contract with ASRC Energy Services.

According to division geologist Jim Cowan, the deadline was extended from May 31 until June 30 because a recent announcement that ASRC Energy Services E&P Technology “was also awarded a contract to initiate the permitting — and has done so — apparently did, as we hoped, stimulate additional interest and perhaps even convinced some that this is a serious proposal.”

Cowan, who is in charge of the project for the division, said “several additional large companies are said to have expressed renewed and more serious interest” in the proposed stratigraphic test well offshore the Arctic National Wildlife Refuge. The division, he said, felt those companies “should be allowed a little additional time to evaluate the data in the areas” proposed for the well.

Cowan cautioned “time is running short for those wishing to participate as original participants, however. It’s highly unlikely that additional extensions will be made if the well is to be drilled this coming winter,” as planned.

Editor’s note: See previous story in the May 9 edition of Petroleum News and an expanded version of the above bulletin in the May 30 issue.

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