U.S. ARCO ( Atlantic Richfield Co )

[moe@xxxxxxxxxxxxx]

Subject: U.S. ARCO ( Atlantic Richfield Co ) strikes new gas well in Burma

Thursday March 27 11:32 PM EST 

U.S. ARCO ( Atlantic Richfield Co ) strikes new gas well
in Burma

RANGOON, March 28 (Reuter) - Atlantic Richfield Co (ARCO) has found a new
commercial-scale offshore natural gas well on Block M-9 off Rangoon's Moattama
coast, official newspapers reported on Friday. 

The state-run newspapers said ARCO Myanmar Inc and its partner Myanma Oil and
Gas Enterprise presented reports to the government showing that ARCO struck
natural gas at a depth of 10,750 feet at Shwepyihtay Test Well number one
off the
Moattama Coast. 

The papers did not say the amount of the deposit and an energy ministry
official on
Friday would not give further details. 

ARCO and Myanma Oil and Gas signed production sharing contracts for offshore
Block M-9 in July 1995. 

Two other U.S. companies, Texaco Inc and Unocal ( UNC Inc ), are making
preparations to produce gas from two other offshore gas fields off Burma's
coast.