McMoran reports positive drilling results

McMoran says it has logged positive results while drilling the Hurricane Deep prospect on South Marsh Island block 217.

Offshore staff

NEW ORLEANS --McMoran says it has logged positive results while drilling the Hurricane Deep prospect on South Marsh Island block 217.

The well, drilling to 6,553 m (21,500 ft) TVD in 4 m (12 ft) of water, has encountered 274 m (900 ft) of gross pay. The top of the reservoir's Gyro sand has potential 15 m (50 ft) net pay in a 16 m (53 ft) gross interval, according to McMoran.

The company says this points to commercial potential at its Gyro-trend Mound Point, JB Mountain, Hurricane, and Blueberry Hill prospects. All target Miocene sands.

According to the company, previous Hurricane Deep logs indicated 8 m (27 ft) of net pay over a 61 m (200 ft) gross interval in a Rob-L section of the reservoir, and potential 6 m (20 ft) of net pay over a 21 m (70 ft) gross interval in the Operc section.

Pending final drilling results, the company plans to tieback the well to existing facilities.

Meanwhile, the company says its Blueberry Hill prospect in Louisiana State Lease 340 encountered four potentially hydrocarbon bearing sands below 6,767 m (22,200 ft). Testing of this well continues.

3/14/2007

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