W&T Offshore Remains Excited About 2008 Drilling Program

Tracy W. Krohn, Chairman and Chief Executive Officer, stated, "While I am pleased that we are twelve for fourteen so far this year for an 86% success rate, we are disappointed that we had two non-commercial wells. However, we remain encouraged and excited about our 2008 drilling program in the Gulf of Mexico. Currently we have 9 rigs running and remain active. We recently brought on production at Ship Shoal 224 E-18, Ship Shoal 300 A-2ST and Ship Shoal 314 A-2ST and anticipate more throughout the year. Additionally, we have completed a well stimulation program on three wells at our Mahogany project."

W&T Offshore reports that so far during the second quarter, the company has drilled or participated in the drilling of eight commercially successful wells, as follows:

      Lease Name/Well              Category           Working Interest %
    Eugene Island 175 H-5       Exploration/Shelf             25%
    Eugene Island 175 I-2ST     Exploration/Shelf             25%
    High Island 111 A-11        Exploration/Shelf             62%
    High Island A-376 #7        Exploration/Shelf             30%
    Main Pass well              Exploration/Shelf             75%
    Ship Shoal 224 E-18         Exploration/Deep Shelf        47%
    Ship Shoal 314 A-2ST        Exploration/Shelf             75%
    Ship Shoal 224 E-19         Development/Shelf             67%

The Company also drilled or participated in the drilling of two non-commercial wells, as follows:

      Lease Name/Well              Category           Working Interest %
    High Island 38 #2           Exploration/Deep Shelf        53%
    Ship Shoal 317 #1           Exploration/Shelf             75%