Unocal finds gas in RI

Unocal finds gas in RI

EL SEGUNDO, Calif. (Dow Jones): Unocal Corp. (UCL) said its
Unocal Ganal Ltd. unit drilled a "significant" deepwater gas
discovery on the Gendalo prospect in the southern portion of the
Ganal production-sharing contract area, offshore East Kalimantan,
Indonesia.

In a press release Tuesday, Unocal said the well encountered
242 feet of net gas pay in Miocene-age reservoirs.

The Gendalo-1 discovery well was drilled to a total depth of
15,000 feet in 4,677 feet of water.

The Gendalo-1 pay is about the same age as that found in the
West Seno oil and gas field, 90 miles to the north on the
Makassar Strait PSC. Unocal expects to begin production from West
Seno in 2002.

The gross unrisked resource potential for the Gendalo prospect
is estimated at 1 trillion to 3 trillion cubic feet of gas.