HOUSTON -- Contango Oil & Gas has drilled a successful well at its Mary Rose prospect in Louisiana state waters on State Lease No. 18860. This is the fourth well the company has drilled on the prospect (Mary Rose #4), and the seventh and final well in its Dutch and Mary Rose drilling programs.
The company expects to complete and test the well before the end of June 2008, and expects the well to begin flowing to the recently completed platform at Eugene Island block 11 before the end of July 2008.
"We remain on target to open our data room for the potential sale of Contango Oil & Gas Co. prior to the end of June 2008, and will announce reserve estimates for the Dutch and Mary Rose fields at that time," says Kenneth R. Peak, Contango's chairman and CEO.