Dominion Exploration & Production Announces Discovery at Thunder Hawk

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June 28, 2004

Houston - Dominion Exploration & Production, a wholly owned subsidiary of Dominion (NYSE:D), and its partners today announced a discovery on their Thunder Hawk prospect in the Deepwater Gulf of Mexico.

The Mississippi Canyon Block 734 #1 ST1, an exploratory well operated by Dominion, encountered approximately 300 feet of net oil pay in two high-quality reservoir zones. These zones, the main pre-drill targets, were found water-bearing in the original hole (Mississippi Canyon 734 #1).

"We are very encouraged by the results of the sidetrack well and are assessing delineation drilling options," Duane Radtke, president and chief executive officer of Dominion Exploration & Production, said. "Our current estimate of reserves based on the two penetrations is from 50 to 150 million barrels of oil equivalent."

The sidetrack well, operated by Dominion, was drilled 150 miles southeast of New Orleans in a water depth of 5,724 feet. The well reached a total measured depth of 24,831 feet and a true vertical depth of 23,101 feet subsea and will be temporarily abandoned.

"Thunder Hawk is Dominion's third discovery in the deepwater this year following successes on its Goldfinger and San Jacinto prospects," added Radtke.

Dominion has a 25 percent interest. Its partners are: Murphy Exploration & Production Company (a wholly owned subsidiary of Murphy Oil Corporation) (NYSE:MUR) 37.5 percent; Spinnaker Exploration Company (NYSE: SKE) 25 percent; and Pioneer Natural Resources Company (NYSE: PXD) 12.5 percent.

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