Cheniere Energy Commences Drilling Project

Wednesday, August 25, 1999

Cheniere Energy began test well drilling on its third prospect: a 3-D Exploration Program in Cameron Parish, La. Located in approximately 25 ft. of water offshore Louisiana, number three Shark Prospect's objective is in the Planulina-1 formation at approximately 9,900 ft. Cheniere holds an 85 percent working interest - the other 15 percent is held by Beta Oil & Gas Company.

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