Nexen Inc. reported completion of the evaluation of our recent drilling success on the northeast fault block of the Appomattox structure. The company have demonstrated contingent recoverable resource in the northeast block of approximately 215 mmboe (50 mmboe net to Nexen), with a range of 120 to 370 mmboe (25 to 90 mmboe net to Nexen) of light oil. Future planned appraisal drilling will further refine this range. Nexen holds a 20% interest in Appomattox and a 25% interest in Vicksburg and various other blocks in the area; Shell Gulf of Mexico Inc. (Shell) holds the remaining interest and is operator.

The Appomattox structure is comprised of three large fault blocks. Our initial discovery well in 2010 was located in the south fault block. In 2011, we booked 65 mmboe net (325 mmboe gross) of probable reserves from this fault block. The newly discovered resource in the northeast fault block is in addition to these probable reserves. Our 2007 Vicksburg discovery is located about 5 miles to the east.

Tags: Nexen Inc.