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NEWS BULLETIN

August 23, 2002 --- Vol. 8, No. 85August 2002

Phillips stakes five more wells in National Petroleum Reserve-Alaska

Phillips Alaska Inc. staked five more wells late last week in the National Petroleum Reserve-Alaska, bringing its total NPR-A stakings this year to seven.

The well locations and lease numbers are as follows:

Summit No. 2, lease AA081857
SENW Sec. 29 T11N R1E

Grandview No. 2, lease AA081808
NENE Sec. 9 T10N R1W

Kokoda No. 1, lease AA084129
NWNW Sec. 27 T11N R5W

Kokoda No. 2, lease AA081831
NWSE Sec. 10 T11N R5W

Powerline No. 1, lease AA081793
SESW Sec. 5 T9N R2W

Phillips told another agency last week that it might also drill at its NPR-A Carbon prospect, but BLM officials have not yet received a staking for Carbon. (See page 1 story in the Aug. 25 edition of PNA, which was posted to PNA’s web site earlier today.)

The Kokoda well sites are about 35 miles west of where Phillips has done most of its drilling — some four to 30 miles inside the eastern boundary of NPR-A. The staked Kokoda sites are southwest of BP Exploration (Alaska) Inc.'s Trailblazer wells.

The Summit well is six to seven miles west-northwest of the area Phillips has been active in. Grandview is 10 miles west of the Spark well, and the Powerline well is about 20 miles west-southwest of the Spark/Lookout area.

On July 23, Phillips staked its first NPR-A wells this year. They were the Puviag No. 1, NWNW 35 16N 10W, on lease AA081854, and the Puviag No. 2, SESW 9 15N 10W, on lease AA081851. The Puviag wells, where Phillips stacked a rig on an insulated pad over the summer, are south of Smith Bay, considerably farther west than the new stakings.

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