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NEWS BULLETIN

May 27, 2005 --- Vol. 11, No. 51May 2005

Prince William Sound RCAC sues Alyeska

BP Exploration (Alaska) Inc., operator of the Northstar unit, and the state and federal issuers of the field's leases have reached tentative agreement on who gets what from the field when it begins producing later this year. BP has also requested approval from the agencies, the Alaska Department of Natural Resources Division of Oil and Gas on the state side and the U.S. Department of the Interior Minerals Management Service on the federal side, for the inclusion of one more federal lease in the unit at the northwest corner where the field's producing Ivishak reservoir extends outside current unit boundaries. See story in April issue of PNA.

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