SPINNAKER HITS

Spinnaker Exploration announces the successful drilling of two exploratory wells in the High Island 202 project area. The first well was drilled by R&B Falcon's, jackup Cliffs 152 to a total depth of 8,235 feet in 44 feet of water. The second test well was drilled by Pride's jackup, Pride Wyoming to a total depth of 8,613 feet in 62 feet of water. Both wells were successful in finding productive Discorbis 12-1 and 12-2 sands. There are two possible prospective Discorbis fault blocks remaining to be tested from this surface location. Both untested fault blocks are located in High Island A-19. Once operations are completed at High Island A-18, drilling will commence on High Island A-19.
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