Goodrich Commences Production at Tunney Prospect

Goodrich Petroleum has initiated production on its Tunney prospect in State Lease 17203 No.1 well, in the West Delta 83 Field in Plaquemines Parish, Louisiana.

The Tunney well has been completed in the OJ sand with perforations of 14,278'-14,322' measured depth (12,297'-12,325' true vertical depth). The well is currently producing at a rate of 6,000 Mcf of gas per day, 900 barrels of oil per day, 0 barrels of water per day on a 17/64ths inch choke with 7,535 psi of flowing tubing pressure ("FTP"). The shut-in tubing pressure ("SITP") is 7,650 psi. The Company is producing the well at a reduced rate while waiting on additional surface and production equipment to be installed.

A four-point test has been run on the well and the calculated absolute open flow ("CAOF") is approximately 393,000 Mcf per day. The Company expects to have the additional production equipment installed during July and anticipates producing the well at a rate of approximately 12,000 Mcf per day and 1,800 barrels of oil per day upon completion of the installation.

Goodrich Petroleum Company is the operator and owns an approximate 46% working interest in the well.


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