Spirit Energy 76 Participates in Significant Deepwater Discovery

Thursday, August 26, 1999
Spirit Energy 76, Unocal Corporation's U.S. Lower 48 exploration and production unit, said the exploratory well drilling the Mirage prospect in the Gulf of Mexico deepwater is a significant oil discovery. Spirit Energy holds a 25-percent working interest. Vastar Resources, Inc. owns 75-percent working interest and is the operator. Vastar estimates the well encountered approximately 300 ft. of net pay. The company said it is too soon to estimate the extent of the discovery. Additional drilling will be conducted to further evaluate the find. The well was drilled in 3,927 ft. of water, approximately 80 miles south-southeast of Venice, La., on Mississippi Canyon block 941. It has been temporarily abandoned.
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