Contango successful with Mary Rose appraisal

Contango Oil & Gas has drilled a successful appraisal well on its Mary Rose field in Louisiana state waters at State Lease No. 19266.

Offshore staff

HOUSTON -- Contango Oil & Gas has drilled a successful appraisal well on its Mary Rose field in Louisiana state waters at State Lease No. 19266. This is the second well the company has drilled on its Mary Rose prospect

"We are planning to spud our third Mary Rose well by the end of March 2008," says Kenneth R. Peak, Contango's chairman and CEO. "We are making progress on our platform and pipeline construction being built to process and transport our Mary Rose production. We now estimate we will have our Mary Rose No.1 and Mary Rose No.3 wells on production in the May-June time frame."

02/11/2008

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