Petsec Spuds Well at Viosca Knoll 26 in the Gulf of Mexico



Petsec Energy says that the Viosca Knoll 26 #1 well was spud late on March 9, 2007. The well is being drilled from the Mobile Bay 994 lease to test a prospect in the south adjoining Viosca Knoll 26 lease.

Should this well be successful, another well will be drilled from the same location to test a prospect in the Mobile Bay 994 lease, which is located approximately 160 kilometers east of New Orleans and is adjacent and to the south of the three gas discoveries made late last year on the Mobile Bay 950, 951 and 993 leases.

The two well program will target a total of 3 - 5 Bcfe of gas net to Petsec Energy (after payout).

The operator is Royal Exploration. Royal holds a 50% stake before payout (40% after payout).

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