Contango Oil & Gas

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Address
3700 Buffalo Speedway
Suite 960
Houston
Texas 77098
Tel 713 960 1901
Fax 713 960 1065
Web http://www.contango.com

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Capex

For fiscal year 2008, Contango's capital expenditure budget will see them invest a total of $55.6 million, as they continue to develop their Arkansas Fayetteville Shale play, bring Eugene Island 10 (Dutch) #3 to production, drill additional developmental wells on their Dutch and State of Louisiana (Mary Rose) prospects, build an associated platform and pipeline and drill at least one additional wildcat exploration offshore well unrelated to Dutch or Mary Rose. Of this $55.6 million, approximately $30.0 million is anticipated to be invested in offshore activities and $25.6 million is expected to be invested in onshore activities.

Production

For Financial Year Ended June 30, 2006

Natural gas (million cubic feet): 456 (05: 2,124)
Oil and condensate (thousand barrels): 37 (05: 51)
Total (million cubic feet equivalent): 678 (05: 2,430)

Natural gas (thousand cubic feet per day): 1,249 (05: 5,820)
Oil and condensate (barrels per day): 100 (05:139)
Total (thousand cubic feet equivalent per day): 1,849 (05:6,654)

Reserves

For Financial Year Ended June 30, 2006

Total proved reserves (Mmcfe): 3,430 (05:1,373)
Pre-tax net present value (SEC at 10%): $ 8,852 (05:$ 7,081)

Who's Who

Kenneth R. Peak
Chairman, President, Chief Executive Officer, Chief Financial Officer, Secretary and Director
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Marc Duncan
President and Chief Operating Officer, Contango Operators, Inc.
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Lesia Bautina
Senior Vice President and Controller
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Sergio Castro
Vice President and Treasurer
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Jay D. Brehmer
Director
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Charles M. Reimer
Director
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Steven L. Schoonover
Director
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Darrell W. Williams
Director
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B. A. (“Bill”) Berilgen
Director
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Offices

United States
Head Office
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