Mariner Energy hits pay in GoM

Offshore staff

HOUSTON -- Mariner Energy Inc. has made a material conventional shelf discovery with the High Island (HI) 116 #5ST1 well, drilled to a TMD of 14,683 ft by 13,150 ft TVD. The well encountered 540 ft of net vertical pay in thirteen sands. Completion operations are under way, with initial production anticipated later in 4Q06.

HI 116 is part of the asset base Mariner acquired from Forest Oil Corp. in March 2006. Mariner estimates this well to have proved and probable reserves in the range of 40-60 Bcfe. "This is the first exploitation well drilled based on the evaluation and recommendation from Mariner's development team," says Scott Josey, Mariner's CEO and president.

10/6/06