RD Royal Dutch Petroleum Company

Ultra Announces First Sales of Oil From China Fields HOUSTON, Sept. 27 /PRNewswire-FirstCall/ -- Ultra Petroleum (AMEX:UPL) today announced that through its wholly-owned subsidiary, Sino-American Energy Corporation, initial oil sales commenced from its first two fields brought on production in Bohai Bay, China. The oil production from the CFD 11-1 and 11-2 fields were loaded in two separate cargos during September 2004. Volumes attributable to Ultra's interests for these two cargos total slightly over 300,000 barrels. In Wyoming, three Pinedale Anticline wells of note commenced production, individually breaking all previous initial production records. Combined, the three wells produced a gross total of more than 103 MMcfe/d. The Riverside 4D-3D tested at 32.6 MMcfe/d, the Riverside 1-3D tested 32.4 MMcfe/d, and the Riverside 2-3D tested at an average 38.1 MMcfe/d. Ultra operates the Riverside 4-3D, and holds an interest in the other two wells operated by Royal Dutch Shell (NYSE:RD). "We are pleased to announce first oil sales from our China properties, marking the beginning of cashflows from the project. Production from our first two fields started in mid-July and is currently approximately 30,000 barrels of oil per day, of which Ultra is entitled to about 10%. Field productivity continues to exceed preproduction expectations. Additionally, these three Pinedale wells demonstrate the growing productivity of the Lance/Mesaverde interval in the field and highlight the continued improvements in completion techniques," stated Michael D. Watford, Ultra's Chairman, President and CEO. Ultra Petroleum is an independent, exploration and production company focused on developing its long life natural gas reserves in the Green River Basin of Wyoming, and oil reserves in Bohai Bay, offshore China. Ultra is listed on the American Stock Exchange under the ticker "UPL" with 75,069,868 shares outstanding. This material includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The opinions, forecasts, projections or other statements, other than statements of historical fact, are forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, they can give no assurance that such expectations will prove to have been correct. Certain risks and uncertainties inherent in the Company's businesses are set forth in their filings with the Securities and Exchange Commission. Full details regarding the selected financial information provided above is available in the Company's annual report and in the Annual Information form filed under the cover of Form 10-K, File No. 0-29370, available from us at 363 N. Sam Houston Parkway East, Suite 1200, Houston, Texas 77060. You can also obtain this form from the SEC by calling 1-800-SEC-0330. http://www.newscom.com/cgi-bin/prnh/20020226/DATU029LOGO http://photoarchive.ap.org/ DATASOURCE: Ultra Petroleum CONTACT: David Russell, Investor Relations of Ultra Petroleum, +1-281-876-0120, ext. 302 Web site: http://www.ultrapetroleum.com/

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