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EC 37 Well #1

On June 2, 2009 the Company announced the discovery of commercial gas reserves in its East Cameron 37 Well #1 located in the U.S. Gulf of Mexico. The well was spud on May 8, 2009 and drilled to a total depth of 12,039 feet. Upon completion of drilling activities, production casing was run and the well was suspended awaiting production facilities.

Probe WI:
Probe NRI:
52.0% BPPO / 41.6% APPO
36.4% BPPO / 30.784% APPO

Water Depth:
Proposed Total Depth:
Objective:
Est. Target Depth:
Secondary Objectives:


Secondary Targets:


Gross Reserves Estimate:
39’
11,500’ TVD
Rob L Sand
10,746’ TVD
Miocene Cris I M-7
Miocene Cris I M-8
Cib Op
9,011’ (Cris I M-7)
9,111’ (Cris I M-8)
9,710’ (Cib Op)
20.0 BCFG

Expected production rate from the EC 37 Well #1 is 20-25 MMcfd.