Mariner Energy

Capex

Future Plans

Production

Reserves

Mariner ended 2007 with estimated proved reserves of 835.8 Bcfe, compared to 715.5 Bcfe at year end 2006. This represents a 17% increase in estimated proved reserves year-over-year. Mariner's year-end estimated proved reserves were fully engineered by the independent engineering firm of Ryder Scott Company, L.P. Mariner achieved a reserve replacement rate of 222% from all sources, including acquisitions and divestitures, at an all-in reserve replacement cost of $3.49 per Mcfe. Of the 2007 year-end estimated proved reserves, 67.5% are proved developed, 46.3% are oil and NGLs, and 46.5% are in West Texas, versus 57.1%, 40.4%, and 35.9%, respectively, at year-end 2006.

Mariner ended its fiscal year on December 31, 2006 with estimated proved reserves of 716 Bcfe compared to 338 Bcfe at December 31, 2005, or a 112% increase from 2005. This change was largely attributable to the acquisition of 298 Bcfe of proved reserves included in the Forest Assets (306 Bcfe as of December 31, 2005, reduced by approximately 8 Bcfe of production in January and February 2006). Excluding the effects of the acquisition of the Forest Assets, Mariner had a reserve replacement rate of 199% at a cost of $3.67 per thousand cubic feet equivalents of natural gas (Mcfe).

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