Carrizo Oil & Gas, reports that the Galloway #1 well in Liberty County, Texas has been successfully drilled and completed, and was put on line on September 30th. Logs indicated 64 feet of apparent net pay in the Cook Mountain sand. The Galloway #1 has tested at estimated rates of up to 13,100 Mcf of natural gas and 320 barrels of oil (15,020 Mcfe) per day with a flowing tubing pressure of 9,897 psi. The Galloway #1 is currently producing to sales at a constrained rate of approximately 10,100 Mcf of natural gas and 240
barrels of oil (11,540 Mcfe) per day. Carrizo is the operator of the well and owns an approximate 30 percent working interest. The Company expects to spud a follow-up well during the fourth quarter of 2005 with a working interest participation of approximately 35 percent.