NEWS RELEASE

The State Mineral Board conducted a Lease Sale May 14, 1997 at 10:00 a.m. in the Mineral Board Hearing Room located in the State Land and Natural Resources Building in Baton Rouge. Below are the preliminary results of the Lease Sale and 1996-97 Fiscal Year totals.

                     NOMINATED NOMINATED     LEASES   NO. OF       AMOUNT OF
CLASSIFICATION         TRACTS   ACREAGE    AWARDED       ACRES         
CASH PAYMENTS
Lease Sale May 14, 1997
State Offshore Leases    9    12,011.160     7    3,824.500 $1,018,823.72
State Onshore Leases     98   109,224.730    42   19,847.520     6,933,737.68
State Dedicated Leases   0    0.000             0 0.000             0.00
State Agency Leases 7    792.960           4 125.380           24,358.26

TOTAL SALE          114    122,028.850    53   23,797.400     $7,976,919.66

1996-97 Fiscal Year
State Offshore Leases    157  203,781.189    69   51,071.879     $11,712,515.68
State Onshore Leases     677  614,288.778    340  107,697.139    38,786,719.67
State Dedicated Leases   0    0.000             0 0.000             0.00
State Agency Leases 87   28,651.332     53   10,724.580     2,202,978.38

TOTAL YEAR TO DATE    921  846,721.299    462  169,493.598    $52,702,213.73