Crimson Exploration Inc. has successfully completed the Catherine Henderson No. 6 exploitation well in the Willis Marsh Field in east central Liberty County, Texas, south of the Company's Felicia area. The well was drilled to a total depth of 13,111 feet and logged 80 feet of net pay in the Cook Mountain formation. The well was placed on production on June 17th and is currently producing at a stabilized gross rate of approximately 7,300 mcf of natural gas per day, with 550 barrels of condensate and an estimated yield of 75 barrels of natural gas liquids per million cubic feet of natural gas produced and processed, with 8,200 pounds flowing tubing pressure. The Company owns an approximate 67% working interest and an approximate 50.6% net revenue interest in this well.
The Catherine Henderson No. 6 well is the first well drilled by the Company in the Willis Marsh Field, and our seventh successful well out of eight drilled in Liberty County since we acquired the area last year. Allan Keel, President & CEO of the Company, commented: "The drilling success we have experienced in Liberty County supports our belief that this area still contains a significant amount of upside potential for the Company. We will continue to develop and pursue additional opportunities in this area for at least the next couple of years. We anticipate that we will drill another 6-8 wells in the Liberty County area during 2008."