Discovers

Unocal Discovers Gas at Alaskan Prospect on Kenai Peninsula

Unocal Corp. last week said it had discovered natural gas at its Alaskan Happy Valley prospect on the Kenai Peninsula. First production is expected by the fourth quarter of 2004, with average production of 20-25 MMcf/d in 2005.

November 24, 2003

Unocal Discovers Gas at Alaskan Prospect on Kenai Peninsula

Unocal Corp. has discovered natural gas at its Alaskan Happy Valley prospect on the Kenai Peninsula. First production is expected by the fourth quarter of 2004, with average production of 20-25 MMcf/d in 2005.

November 21, 2003

Reliant Discovers More Questionable Trades, Revises ’02 Guidance Downward

Reliant Resources Inc. (RRI), wobbling as a stand-alone retail and wholesale services company, last week said it had identified a series of four more related natural gas financial swap transactions that should not have been recorded. The transactions decreased RRI net income by $13 million in 2000 and increased net income by the same amount in 2001. After meeting with its independent auditors and the Securities and Exchange Commission, RRI determined that a restatement would not be required, but it will file an additional footnote disclosure as an amendment to its 2001 Form 10-K/A.

November 4, 2002

Reliant Discovers More Questionable Trades, Revises ’02 Guidance Downward

Reliant Resources Inc. (RRI), wobbling as a stand-alone retail and wholesale services company, revealed Tuesday that a review of its energy trading activities has identified a series of four related natural gas financial swap transactions that should not have been recorded.

October 30, 2002