Contango completes third Mary Rose well

Offshore staff

LONDON -- Contango Oil & Gas has completed a well at its Mary Rose No. 2 location in Louisiana state waters. Well testing is scheduled for the end of this month. This is the third well the company has drilled on its Mary Rose prospect.

Mary Rose No. 1 and Mary Rose No. 3 are currently flowing at a combined rate of approximately 85 MMcfe/d (approximately 33.5 MMcfe/d net to Contango). The company's plan is to gradually bring the 8/8ths production of each of these wells up to 50 to 60 MMcfe/d. The wells flow into the production platform at Eugene Island block 11, and through an associated pipeline into the ANR Pipeline facilities at Eugene Island block 63. The gas is then processed onshore at Crosstex's Pelican plant near Patterson, Louisiana.

05/01/2008