Seven Seas Provides Operations Update; Tres Pasos 6-E Completed and Producing

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Seven Seas Provides Operations Update; Tres Pasos 6-E Completed and Producing

    HOUSTON, March 19 /PRNewswire-FirstCall/ -- Seven Seas Petroleum Inc.
(Amex: SEV) announced that the Tres Pasos 6-E well, the fifth Guaduas Oil
Field development well, has been completed and is currently producing
approximately 1,000 barrels of oil per day.  With the addition of this well,
the Guaduas Oil Field is presently producing approximately 10,400 barrels per
day (4,800 barrels per day net to Seven Seas).  As previously reported, gross
production from the field is temporarily curtailed due to high gas-oil ratios
on several of the wells.  Gross production from existing wells is expected to
increase by approximately 2,500 to 3,500 barrels per day (1,100 and
1,600 barrels per day net to Seven Seas) in April 2002 when gas re-injection
facilities are installed.  Cumulative production from the Guaduas Oil Field
recently surpassed 4 million barrels of oil.
    The Company will commence drilling of the sixth development well, the Tres
Pasos 7-W well, within the next two weeks.  This well will be drilled from the
El Segundo 1 surface location to a total measured depth of approximately
6,700 feet.
    The Escuela 2 exploration well to test the Subthrust Dindal Prospect is
currently drilling at a depth of 13,840 feet.  Some of the formations recently
encountered have been harder than expected, slowing the overall penetration
rate.  This well is programmed to be drilled to a total measured depth of
18,000 feet.
    Seven Seas Petroleum Inc. is an independent oil and gas exploration and
production company operating in Colombia, South America.  The Company's
primary emphasis is on the development and production of the Guaduas Oil Field
and exploration of the Subthrust Dindal Prospect, both of which are located in
Colombia's prolific Magdalena Basin.

    Statements regarding anticipated oil and gas production and other oil and
gas operating activities, including the costs and timing of those activities,
are "forward looking statements" within the meaning of the Securities
Litigation Reform Act.  The statements involve risks that could significantly
impact Seven Seas Petroleum Inc.  These risks include, but are not limited to,
adverse general economic conditions, operating hazards, drilling risks,
inherent uncertainties in interpreting engineering and geologic data,
competition, reduced availability of drilling and other well services,
fluctuations in oil and gas prices and prices for drilling and other well
services and government regulation and foreign political risks, as well as
other risks discussed in detail in the Seven Seas Petroleum Inc.'s filings
with the U.S. Securities and Exchange Commission.

SOURCE Seven Seas Petroleum Inc.

http://www.sevenseaspetro.com
Company News On-Call:

http://www.prnewswire.com/comp/123145.html
CONTACT:
Bryan Sanchez, Investor Relations of Seven
Seas Petroleum Inc., +1-713-622-8218