Contango Tests Positive Gas at Dutch-4

Contango Oil & Gas announced that its Dutch #4 well has tested at a rate of approximately 19.1 million cubic feet equivalent per day.

The Company expects to begin producing this well in February 2009 at an 8/8ths rate of approximately 35 Mmcfed. The Company expects to invest approximately $4.8 million in completion costs and $3.2 million in pipeline and facility costs. Contango has a 38.12% net revenue interest in this well and it will flow to the Company's EI-11H platform.

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