NEWS RELEASE

The State Mineral Board conducted a Lease Sale July 9, 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 1997-98 Fiscal Year totals.

                     NOMINATED NOMINATED     LEASES   NO. OF       AMOUNT OF
CLASSIFICATION         TRACTS   ACREAGE    AWARDED       ACRES          CASH
PAYMENTS

Lease Sale July 9, 1997
State Offshore Leases         9    16,475.260       4    1,064.370    $512,908.93
State Onshore Leases        39    26,231.120     22   5,454.507    1,393,265.59
State Dedicated Leases        1     2,254.000        1     870.000        270,570.00
State Agency Leases            6     2,163.758        4     637.239        159,222.86

TOTAL SALE            55    47,124.138     31   8,026.116   $2,335,967.38