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NEWS BULLETIN

May 26, 1998 --- Vol. 4, No. 27May 1998

Forcenergy produces 1,500 barrels of oil per day from new West McArthur River well

The most recent well at the West McArthur River field on the west side of Cook Inlet is producing 1,500 barrels of oil a day, field owner and operator Forcenergy Inc. said May 26.

The West McArthur River unit 5 well was drilled to a measured depth of 14,450 feet and encountered the objective Hemlock formation approximately 100 feet structurally high to previous wells drilled in the field, the company said. The well logged approximately 225 feet of measured depth (175 feet true vertical depth) net oil pay and is currently producing 1,500 barrels of oil per day net to Forcenergy’s 100 percent working interest position (75 percent net revenue position).

The well was drilled as a result of a new three-dimensional seismic interpretation of the field structure. Forcenergy said that as a result of this well, proven reserves assigned to the West McArthur River field are expected to increase by approximately 1.5 million barrels of oil.

March production reports from the Alaska Oil and Gas Conservation Commission show three wells at West McArthur River averaging a combined production of less than 1,900 barrels a day.

Stig Wennerstrom, Forcenergy’s chairman and chief executive officer, said in a statement: “The WMRU No. 5 well is an example of Forcenergy’s strategy of bringing new technology and an independent’s mindset to the Cook Inlet. The well was drilled after Forcenergy shot a 3-D seismic survey using innovative data acquisition techniques which were tested and proven on our Redoubt Shoal project in a nearby area. We continue to believe that the use of the latest technologies and an aggressive approach will create a significant value in Forcenergy’s Cook Inlet holdings.”

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