Prospect Category W.I.% Status/Spud Date Operator Offshore West Cameron 256 #2 Exploratory 100 Plugged and Abandoned Remington West Cameron 444 #1 Exploratory 60 Discovery-Tested 6 MMCF/D Remington East Cameron 185 A-4 Development 65 Testing Remington East Cameron 346 A-13 Exploratory 75 Discovery-Producing Remington Main Pass 206 A-1 Development 40 Awaiting Pipeline Connection MHR Main Pass 206 A-2 Development 40 Awaiting Pipeline Connection MHR West Cameron 444 #2 Exploratory 60 June 2005 Remington East Cameron 298 #1 Exploratory 66 June 2005 Remington East Cameron 315 #1 Exploratory 50 Drilling @ 10,500' Remington East Cameron 346 A-14 Exploratory 75 Drilling @ 4,200' Remington South Pass 87 Aquarius Exploratory 50 Waiting on Rig-Est. June 2005 Marathon
The Company's West Cameron Block 444 exploratory well was drilled to total depth of 10,180 feet and discovered gas pay in a single sand. This well has been flow tested at a rate of 6 MMCFG/day. Drilling of an additional well to test an adjacent fault block will commence immediately following the completion of the #1 well. Platform design is underway and first production is expected in the early fourth quarter 2005. Remington operates West Cameron Block 444 and owns a 60% working interest. Magnum Hunter Resources owns the remaining 40% working interest.
Drilling activities continue at the Company's East Cameron Block 346 field. The Company recently drilled the A-13 sidetrack well and found oil and gas pay in multiple sands. This well has been completed and is currently producing. The Company is currently drilling the A-14 well and has plans to drill up to two more wells on this property. Remington operates East Cameron Block 346 with a 75% working interest. Magnum Hunter Resources own the remaining 25%.
Additional wells drilling include one exploratory well located at East Cameron 315 #1 and an exploratory well scheduled to commence drilling this week at East Cameron 298. The Company is currently waiting on the drilling rig for the South Pass Block 87 Aquarius Prospect and anticipates the rig's arrival soon.
For the remainder of 2005 Remington anticipates maintaining 4-5 operated rigs drilling from its inventory of exploratory prospects. The Company will also have a non-operated drilling rig at the Aquarius prospect. Late in the year the Company anticipates commencing its deeper water program. The Company has a rig committed for two wells in this program. Remington will be operator of the deeper water program and will maintain a 100% interest in the drilling program.
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