Plains Exploration & Production Company announces a new oil discovery at the Friesian Prospect in Green Canyon Block 599. The block is approximately 200 miles south of New Orleans, Louisiana, and is located in approximately 3,800 feet of water.

Operated by Shell Offshore Inc. (Shell), the Friesian discovery was drilled to a total depth of 29,414 feet and encountered more than 120 feet of net oil pay. The discovery well is prepared for completion and temporarily abandoned.

Any additional drilling and/or development plans for the Friesian project will be the subject of future announcements. Shell owns a 50 percent working interest and PXP owns the remaining 50 percent in this discovery.