SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date or Report (Date of earliest event reported)
September 1, 1998
EEX CORPORATION
(Exact name of Registrant as specified in its charter)
Texas 1-12905 75-2421863
(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification No.)
incorporation)
2500 CityWest Boulevard, Suite 1400, Houston, Texas 77042
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including Area Code (713)243-3100
ITEM 5. Other Events
Set forth below in its entirety is a News Release issued by
EEX Corporation on September 1, 1998:
EEX TESTS DISCOVERY WELL ON WEST CAMERON BLOCK 204
HOUSTON, TEXAS (September 1, 1998) - EEX Corporation
(NYSE: EEX) successfully completed the West Cameron Block
204 Well No. 1 and tested a maximum daily flow rate of 30
million cubic feet of gas and 86 barrels of condensate with
3,415 psi of pressure on a 40/64 inch choke. The well
logged approximately 60 net feet of pay in the Cib Carst
sand at a depth around 10,000 feet. EEX is the operator
with a 60% working interest with the remaining interest held
by Petrobras. Production is expected to begin early in the
fourth quarter of this year.
"This well was drilled and tested all within the month
of August. We hope to start producing the well within 90
days of the initial spud date," said Tom Hamilton, Chairman
and President, Chief Executive Officer. "This well,
together with our previously announced fast-track success at
South Timbalier 217 (05/07/98) and the property trade with
Energen (08/05/98), should meaningfully increase our gas
production during the fourth quarter," Hamilton added.
EEX plans to use available surplus facilities to
accelerate the time from discovery to first production. An
existing platform on Brazos Block 455 will be salvaged and
reinstalled in approximately 50 feet of water at West
Cameron 204.
EEX Corporation is an oil and natural gas exploration
and production company with activities currently focused in
Texas, the Gulf of Mexico and Indonesia.
This report includes forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934.
Although EEX believes that its expectations are based on
reasonable assumptions, it can give no assurance that its
goals will be achieved. Important factors that could cause
actual results to differ materially from those in the
forward-looking statements include political developments in
foreign countries, federal and state regulatory
developments, the timing and extent of changes in commodity
prices, the timing and extent of success in discovering,
developing and producing or acquiring oil and gas reserves,
and conditions of the capital and equity markets during the
periods covered by the forward-looking statements. EEX's
periodic reports filed with the Securities and Exchange
Commission include a discussion of important factors that
could cause actual results to differ materially from those
indicated in forward-looking statements.
SIGNATURE
Pursuant to the requirements of the Securities Exchange
Act of 1934, the Registrant has duly caused this report to
be signed on its behalf by the undersigned thereunto duly
authorized.
EEX Corporation
By: /s/ T. E. Coats
-------------------
T. E. Coats
Vice President and
Controller
Date: September 2, 1998