CRZO Carrizo Oil and Gas Inc

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

Copyright