Goodrich Petroleum is currently drilling its Tunney prospect in the State Lease 15016 No.1, in West Delta 83 field in Plaquemines Parish, Louisiana. The well is currently
drilling at approximately 16,735' measured depth and a 7" protection liner has been set to
14,004'. The deeper portion of the well below the intermediate casing at 11,800' MD has not been logged with open-hole logs but LWD tools have been utilized, which indicate potential pay in two horizons. The well is drilling toward total depth, which is currently scheduled to be approximately 16,800' MD. Once the well reaches total depth, the Company plans to log the open hole with conventional logs. The Company completed a four-well drilling program in the Lafitte field during the first quarter of 2003. Three of the four wells resulted in successful producers. The Company's Valdarrama Uno and Valdarrama Dos wells commenced production during April and all three successful wells are now on production. Initial production appears to be impacted by significant shut-in time. During the last two weeks of April, these three wells produced at an average combined gross rate of 308 barrels of oil per day and 552 Mcf of gas per day, or 2,400 Mcfe. Goodrich has an approximate 49% working interest in the field.