Republic of Yemen and Hunt Oil Company Extend PSA 

DALLAS, Jan. 5, Hunt Oil Company

Hunt Oil Company is pleased to announce today that an agreement has 
been completed and executed with the Ministry of Oil and Minerals of the 
Republic of Yemen to extend the company's 20-year Production Sharing 
Agreement (PSA) governing the right to conduct petroleum operations in 
Marib Block 18 in Yemen. The extension is for an additional five years, 
which will commence on November 15, 2005, and extend until November 
14, 2010.
 
Ray L. Hunt, Chairman of Hunt Oil Company, said, "We would like to 
recognize the support and cooperation we received from the Ministry of Oil 
and Minerals in connection with the granting of this five-year extension, 
and we look forward to continuing our mutually beneficial partnership with 
the Republic of Yemen throughout the remainder of this decade."