SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act
of 1934
Date of Report (Date of earliest event reported) March 15, 1994
TRITON ENERGY CORPORATION
(Exact name of registrant as specified in its charter)
Texas 1-7864 75-1151855
(State or other jurisdiction of (Commission (IRS Employer
incorporation) File Number) Identification No.)
Registrant's telephone number, including area code (214) 691-5200
N/A
(Former name or former address, if changed since last report)
Page 5. Other Events.
On March 15, 1994 Triton Energy Corporation announced the
finalization of agreements, including a production sharing
contract, for commencement of joint petroleum operations in
Block A-18, located in the Malaysia-Thailand Joint Development
Area by means of a press release filed as an exhibit to this
report. A more detailed summary of the terms of Triton's
participation is also filed as an exhibit.
Item 7. Financial Statements and Exhibits.
Exhibit No. Description
99.1 Press release dated March 15, 1994
99.2 JDA Block A-18
Summary of Terms of Triton's Participation
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized.
TRITON ENERGY CORPORATION
Date: March 16, 1994 By: ________/S/ Robert B. Holland, III__
Robert B. Holland, III, Senior Vice
President and General Counsel
EXHIBIT 99.1
Press Release dated March 15, 1994
PETRONAS CARIGALI AND TRITON FINALIZE AGREEMENTS FOR THE
MALAYSIA-THAILAND JOINT DEVELOPMENT AREA
DALLAS--March 15, 1994--Triton Energy Corporation (NYSE: OIL)
announced the finalization of agreements for commencement of
joint petroleum operations in Block A-18, located in the
Malaysia-Thailand Joint Development Area. The Production
Sharing Contract (PSC) between the Malaysia-Thailand Joint
Authority (MTJA), Petronas Carigali Sdn. Bhd. (a wholly-owned
subsidiary of Petroliam Nasional Berhad [PETRONAS] the Malaysian
state oil company) and Triton Oil Company of Thailand (a
wholly-owned subsidiary of Triton Energy Corporation) will be
submitted to the Government of Malaysia and the Government of
the Kingdom of Thailand for approval.
Petronas Carigali and Triton each will hold a 50% interest in
Block A-18 and have agreed to form a joint operating company to
serve as operator under the PSC covering Block A-18. Petroleum
operations are anticipated to commence in June 1994 with the
acquisition of 5,750 kilometers of 2-D seismic data, to be
followed by exploration and appraisal drilling. A well drilled
in 1971 tested significant quantities of natural gas from Block
A-18. Since that discovery further petroleum operations were
suspended pending the creation of the MTJA and finalization of
related agreements.
Block A-18 which encompasses approximately 700,000 acres is
located in the shallow waters of the Gulf of Thailand.
Triton Energy, with headquarters in Dallas, is an international
independent oil and gas exploration and production company with
oil and gas interests in numerous countries.
# # #
CONTACTS: W. Greg Dunlevy or Linda T. Covington (214) 691-5200
EXHIBIT 99.2
JDA Block A-18
Summary of Terms of Triton's Participation
Triton's Cost Participation: 50%
Triton's Approximate Net Revenue Interest
Before Payout: 33%*
After Payout: 23%*
Taxes: Tax holiday (0% rate) for first 8
years of production
Tax rate of 10% beginning in year 9
of production
Tax rate of 20% beginning in year 15
of production
Term: For life of MTJA up to 35 years
Contract Area: 700,000 acres
*After royalties and after profit share to the MTJA. Triton's participation
includes its cost recovery share (equal to the cost recovery share of the
Malaysian state oil company) and profit share, which vary before and after
payout.
