Remington Oil and Gas Corporation Announces Approval and Adoption of Merger Agreement

DALLAS, June 29 /PRNewswire-FirstCall/ -- Remington Oil and Gas Corporation announced that at a Special Meeting of Stockholders today the merger agreement between Remington Oil and Gas Corporation and a wholly owned subsidiary of Helix Energy Solutions Group, Inc. was approved and adopted. The merger is anticipated to be effective as of July 1, 2006. Friday, June 30, 2006, will be the last day for trading in Remington stock.

Remington Oil and Gas Corporation is an independent oil and gas exploration and production company headquartered in Dallas, Texas, with operations concentrating in the onshore and offshore regions of the Gulf Coast.

Statements concerning future revenues and expenses, production volumes, results of exploration, exploitation, development, acquisition and operations expenditures, and prospective reserve levels of prospects or wells are forward-looking statements. Prospect size and reserve levels are often referred to as "potential" or "un-risked" reserves and are based on the Company's internal estimates from the volumetric calculations or analogous production. Other forward-looking statements are based on assumptions concerning commodity prices, drilling results, recovery factors for wells, production rates, and operating, administrative and interest costs that management believes are reasonable based on currently available information; however, management's assumptions and the Company's future performance are subject to a wide range of business, mechanical, political, environmental and geologic risks. There is no assurance that these goals, projections, costs, expenses, reserve levels, and production volumes can or will be met. Further information is available in the Company's filings with the Securities and Exchange Commission, which are herein incorporated by this reference. Information in this document should be reviewed in combination with the Company's filings with the Securities and Exchange Commission and information available on the Company's website at http://www.remoil.net/ .