Remington Oil and Gas Corporation Announces Results of Annual Meeting

Remington Oil and Gas Corporation Announces Results of Annual Meeting DALLAS, June 1 /PRNewswire-FirstCall/ -- Remington Oil and Gas Corporation (NYSE:REM) announced that at the Company's Annual Meeting held on May 25, 2005, the shareholders re-elected all of the Company's current directors and ratified the appointment of Ernst & Young LLP as our independent auditor. The members of the Board of Directors are John E. Goble, Jr., William E. Greenwood, Robert P. Murphy, David E. Preng, Thomas W. Rollins, Alan C. Shapiro, and James A. Watt. All of the directors other than Mr. Murphy and Mr. Watt are independent outside directors. At its meeting following the Annual Meeting, the Company's Board of Directors approved the membership on the Board's standing committees as follows: Audit Committee - Mr. Goble (Chairman), Mr. Greenwood, and Dr. Shapiro Compensation Committee - Dr. Shapiro (Chairman), Mr. Preng, and Mr. Rollins Nominating and Corporate Governance Committee - Mr. Preng (Chairman), Mr. Greenwood and Mr. Rollins Executive Committee - Mr. Rollins (Chairman), Mr. Preng and Mr. Watt Mr. Watt was re-elected Chairman of the Board and Mr. Preng was re-elected Lead Independent Director. The duties and responsibilities of each of these positions and committees are published in the company's corporate governance documents available on its web site at http://www.remoil.net/ . The Board also authorized the Company to maintain a 100% working interest in the initial drilling phase of its first deeper water exploration projects in the Gulf of Mexico. The Company has a rig commitment for two wells at the conclusion of its current contract, which is anticipated to occur late in the 4th quarter of this year or early in 2006. Remington Oil and Gas Corporation is an independent oil and gas exploration and production company headquartered in Dallas, Texas, with operations concentrating in the offshore and onshore 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/ . DATASOURCE: Remington Oil and Gas Corporation CONTACT: Steven J. Craig, Sr. Vice President of Remington Oil and Gas Corporation, +1-214-210-2675 Web site: http://www.remoil.net/