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NEWS BULLETIN

July 24, 2002 --- Vol. 8, No. 76July 2002

Phillips stakes first wells in National Petroleum Reserve-Alaska

Phillips Alaska Inc. staked its first two wells in the National Petroleum Reserve-Alaska on July 23, the U.S. Bureau of Land Management told PNA. (See related story on cover of PNA’s Exploration & Production section in July 21 edition.)

The well locations and lease numbers are as follows:

Puviag No. 1, NWNW 35 16N 10W, on lease AA081854

Puviag No. 2, SESW 9 15N 10W, on lease AA081851

These are the first two NPR-A wells staked this year and, if drilled, represent the farthest west North Slope exploration drilling in several decades.

Phillips’ Puviag pad currently has Nabors Alaska Drilling Rig 16-E on it. The 1.5-acre insulated ice pad was built this past spring with the intent of holding a rig through the summer.

West of Teshekpuk Lake, the pad is approximately 67 miles southeast of Barrow in section 35, township 16N, range 10W.

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