Several Wells Awaiting Completion for Dune Energy

Several wells completed drilling prior to year end 2007 and are now awaiting completion and/or production hook-up. At Chocolate Bayou, Brazoria County, Texas, we drilled the Wieting #30 well to a total depth of 14,500 feet to the Frio age IP Farms section. Wireline log analysis in the IP Farms zone indicated pay sands. However, mechanical problems prevented attempting a test or completion in this section. The well is currently being completed in the primary target, the Andrau sand at a depth of 12,450 feet. An additional well at Chocolate Bayou is anticipated later in 2008, to further evaluate the IP Farms, plus shallower PUD zones identified in the Wieting #30 well. To date no reserves have been booked to the IP Farms zone. At our Comite field in East Baton Rouge Parish, Louisiana, we successfully drilled a sidetrack of the Cobb #1 well to a total depth of 17,706 feet, and logged pay in the Tuscaloosa A and C sands. Reserves in these two zones are currently classified as PDNP and we are planning to move a completion rig on location this month. At Bayou Couba, the Fee #5 well was drilled and cased to a total depth of 13,065 feet. The initial completion zone depleted on test and the well will be sidetracked approximately 1,000 feet northwest to recover PUD reserves. This sidetrack will be commenced as soon as partners' approvals are secured.

The drilling program in the Barnett Shale continues, and we currently have 35 wells producing, two wells in various stages of completion, and one well currently drilling. We will continue a one to two rig program in the Barnett Shale throughout 2008.


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