Enron Corp.‘s board of directors unanimously accepted the resignations, effective June 6, of its four remaining long-standing directors, Robert A. Belfer, Norman P. Blake, Wendy L. Gramm and Herbert S. Winokur Jr. The board also elected Raymond S. Troubh as interim chairman of the board. Troubh is a financial consultant based in New York who was appointed to the board last November before the company filed for bankruptcy. The board is still awaiting approval from Enron’s bankruptcy court Creditors’ Committee on three new board candidates it has selected. In February, the board announced it would conduct an orderly transition composed of new, independent directors. Six of Enron’s board members resigned in February, two left in March and two more left at the end of May. Blake and Winokur, who were in charge of the board’s restructuring, said they will act as unpaid advisers to provide continuity of information in a brief transition period if needed.

As part of its East Coast exploration drilling program, Calgary-based Husky Energy Inc. said Thursday that it plans to drill an exploration well in the Jeanne d’Arc Basin, located 350 kilometers east of Newfoundland and Labrador, on the Trepassey Exploration License (EL 1044). The company holds a 100% working interest in the license. The exploration well will test the oil potential of a large structure approximately 10 kilometers south of the White Rose oilfield. Husky holds six additional licenses in the Jeanne d’Arc Basin and anticipates drilling a second well in late 2002 or in 2003. “The East Coast is a core growth area for Husky,” said John C.S. Lau, CEO of Husky Energy. “The Terra Nova development and the White Rose project are important milestones for Husky.” He added that the company “is the largest license holder in the Jeanne d’Arc Basin, and we are pleased to be moving forward with exploration in this area.” Husky said it has signed a drilling contract with GlobalSanteFe International (Canada) Drilling Co. for the Trepassey well. Under the terms of the contract, Global will provide the semi-submersible drilling rig Glomar Grand Banks. The company said it expects drilling to begin in the third quarter. The well will be drilled to a total depth of 3,100 meters.

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