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Houston Exploration Announces Appointment of Tracy Price As Senior Vice President Land; High Bidder on Ten Leases in the Texas State Waters Oil and Gas

Business/Energy Editors

HOUSTON--(BUSINESS WIRE)--July 19, 2001

The Houston Exploration Company (NYSE:THX) today announced the appointment of Tracy Price as Senior Vice President Land. Prior to joining Houston Exploration, Mr. Price was Manager of Land and Business Development at Newfield Exploration Company, where he managed all functions of the land department including offshore, onshore and international.

The Company is also pleased to announce that it was the high bidder on ten of twelve leases in the Texas State Waters Oil and Gas Lease Sale. The bids, which totaled approximately $962,000 are subject to approval by the Texas Railroad Commission.

William G. Hargett, President and Chief Executive Officer, said that, "We are very pleased with the addition of Tracy Price to our team, he brings considerable expertise in leasing, joint ventures and acquisitions. He will be instrumental to our Company's expanding program. We are also pleased with the results of the lease sale. Our new leases are strategically located in or near areas where Houston Exploration is currently active and support our offshore exploration program."

The Houston Exploration Company (NYSE:THX) is a Houston-based independent natural gas and oil company engaged in the exploration, development and acquisition of domestic natural gas and oil properties. The Company's offshore properties are located in the Gulf of Mexico and its onshore properties are located in South Texas, the Arkoma basin, South Louisiana, East Texas, and West Virginia. Information on the Company can be found on the Company's web site at (www.houstonexploration.com).

Note: This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act that involve risks and uncertainties, including price volatility, development, operational, implementation and opportunity risks, and other factors described from time to time in the company's publicly available SEC reports, which could cause actual results to differ materially from those expected.