Mission has also successfully recompleted the High Island Block A-553 #A-7 well, located offshore Texas in federal waters. The well is expected to reach a combined gross production rate of approximately 15 to 18 million cubic feet of gas equivalent. Mission holds a 36.6% working interest in High Island Block A-553 and operates the property. Additional recompletion and drilling opportunities exist on this block.
"We are pleased with the results of these two wells and continue on track for our production guidance for 2004," commented Robert L. Cavnar, Chairman, President and Chief Executive Officer. "With the success of these two wells, our production mix is now over 60% natural gas, which brings us closer to our target of 70% natural gas."
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