Goodrich Strikes on Norton Prospect in U.S. Gulf

Goodrich Petroleum has made a new discovery on its Norton Prospect in the West Delta 83 Field in Plaquemines Parish, Louisiana.

The Company has drilled and logged its Goodrich Petroleum Company, State Lease 1922 No. 16 (sidetrack) well, the initial discovery well for its Norton Prospect, to a total measured depth of 11,035 feet. The well encountered approximately forty feet (40') of net pay in the primary objective, the 10,500' sand. The Company plans to immediately begin completion operations on the well and anticipates initial production will begin in May 2004. Goodrich is the operator of the well and owns an approximate sixty-five percent (65%) working interest.

Goodrich also announced additional completion results from its Dempsey Prospect well, the Goodrich Petroleum Company, State Lease 17381 No. 1, in South Pass Block 41. The Dempsey prospect is a southerly extension to the Burrwood Field in Plaquemines Parish, Louisiana. The Company has previously tested and announced results from the 10,600' sand and has now tested the 9,100' sand as a selective alternate completion. In a 12-hour flow test, the well flowed at an approximate rate of 8,034 Mcf per day of natural gas, 259 barrels of oil, on a 21/64ths inch choke with 2,985# of flowing tubing pressure. As previously announced the Company is the operator, owns an approximate seventy percent (70%) working interest in the well and anticipates initial production from the well to begin in May 2004.
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