Carrizo Oil & Gas, Inc. Announces Drilling of Appraisal Well at Huntington in UK North Sea; Additional S.E. Tarrant County Barne
September 04 2007 - 6:15AM
PR Newswire (US)
HOUSTON, Sept. 4 /PRNewswire-FirstCall/ -- Carrizo Oil & Gas,
Inc. (NASDAQ:CRZO) announced today that the initial appraisal well,
the 22/14b-6, was spud on August 30, 2007 on the Huntington
Prospect in the UK Central North Sea. This is the first of two
planned appraisal wells which will confirm and delineate the size
of our recent 11,000 Boe/d discovery announced on June 5, 2007.
Oilexco (OIL.TO) is the operator of this Carrizo generated prospect
which is being drilled with the semi-submersible Transocean Sedco
712. Carrizo has a 15 percent working interest in the well.
Expected drilling and testing time is approximately two months.
(Logo: http://www.newscom.com/cgi-bin/prnh/20030523/CRZOLOGO)
Carrizo also announced that two additional South East Tarrant
County, Texas Barnett Shale wells began flowing to sales on August
26, 2007. The Schroeder No. 1H and No. 2H, in which Carrizo has a
100 percent working interest in both wells, are producing at a
combined rate of 8.3 MMcfe/d gross (6.5 MMcfe/d net) as of Friday,
August 31, 2007. Carrizo Oil & Gas, Inc., is a Houston-based
energy company actively engaged in the exploration, development,
exploitation and production of oil and natural gas primarily in
proven onshore trends along the Texas and Louisiana Gulf Coast
regions and the Barnett Shale area in North Texas. Carrizo controls
significant prospective acreage blocks and utilizes advanced 3-D
seismic techniques to identify potential oil and gas reserves and
drilling opportunities. Statements in this news release, including
but not limited to those relating to Carrizo's or management's
intentions, beliefs, expectations, hopes, projections, assessment
of risks, estimations, plans or predictions for the future,
including testing, evaluation, potential effects or timing, cash
flow, the expected timing of drilling, the expected timing of
fracture stimulation, amount of shut-in production, well production
rates, future drilling and completion of current drilling of wells,
timing of production, availability and timing of use of drilling
rigs and other statements that are not historical facts are forward
looking statements that are based on current expectations. Although
the Company believes that its expectations are based on reasonable
assumptions, it can give no assurance that these expectations will
prove correct. Important factors that could cause actual results to
differ materially from those in the forward looking statements
include the results and dependence on exploratory drilling
activities, results of testing, evaluation, timing, growth of
Huntington, structure size, results of any drilling operations,
amount of actual production, final test results, operating risks,
risks of foreign operation, risks of offshore operations, oil and
gas price levels, land issues, availability of equipment, weather
and other risks described in the Company's Form 10-K for the year
ended December 31, 2006 and its other filings with the Securities
and Exchange Commission. Contact: Carrizo Oil & Gas, Inc. B.
Allen Connell, Director of Investor Relations Paul F. Boling, Chief
Financial Officer (713) 328-1000
http://www.newscom.com/cgi-bin/prnh/20030523/CRZOLOGO
http://photoarchive.ap.org/ DATASOURCE: Carrizo Oil & Gas, Inc.
CONTACT: B. Allen Connell, Director of Investor Relations, or Paul
F. Boling, Chief Financial Officer, both of Carrizo Oil & Gas,
Inc., +1-713-328-1000
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