Mariner Energy Names New Chief Financial Officer

Mariner Energy reports that John H. Karnes will join Mariner on October 16, 2006, as its Senior Vice President, Chief Financial Officer and Treasurer. Mr. Karnes will replace Rick G. Lester who announced on June 29, 2006, his intended departure from Mariner and who has continued in his role at the company on a consulting basis.

Scott D. Josey, Mariner's Chief Executive Officer and President said, "John Karnes brings a rich complement of skills and a wealth of business experience to Mariner. I believe he will be a great addition to our management team."

Previously, Mr. Karnes was the Senior Vice President and Chief Financial Officer of The Houston Exploration Company from November 2002 through December 2005. Prior to his service at Houston Exploration, in 2002 he was Vice President and General Counsel for Encore Acquisition Company, a NYSE-listed exploration and production company. He served as Executive Vice President and Chief Financial Officer at Cybercash, Inc., a NASDAQ-listed software and services provider, from 2000 to 2001. He has served in other management roles at publicly-traded companies during his career, including positions at Snyder Oil Corporation and Apache Corporation. He is an attorney and practiced at the national law firm of Kirkland & Ellis, from 1987 to 1991, focusing on securities matters and mergers and acquisitions.

Mr. Karnes received his Bachelor of Business Administration degree in accounting, with honors, from the University of Texas at Austin and his Juris Doctorate, with honors, from Southern Methodist University School of Law.


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