Petsec Announces First Sales From Louisiana Gas Discovery

17 February 2009

Petsec Energy has announced initial production to sales from its Miles Timber No. 1 (FAL-MA 1 RA SUA) gas discovery well in the Moonshine Project area, onshore Louisiana, USA.

The well is producing at a rate of 1.5 million cubic feet of gas (MMCFD) and 75 barrels of oil (BOPD) per day and no water on a 7/64" choke with 4,750 psi flowing tubing pressure.

Petsec Energy owns a 68% working interest in the Miles Timber No. 1 Well, and is the operator.

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