Energy Partners Logs Pay with Two Discoveries in the GOM

Energy Partners has successfully drilled two additional exploratory wells in the Gulf of Mexico, the B-3 well at East Cameron 280 and the EPL State Lease 1008 #B-59 well referred to as the Glacier Prospect in the East Bay Field.

At East Cameron 280, the B-3 well, located approximately 85 miles off the Louisiana coast in 167 feet of water, was drilled to a true vertical depth (TVD) of 6,130 feet (7,877 feet measured depth). Hydrocarbons were encountered in one sand interval with a total of 23 net feet of apparent natural gas pay. The well was drilled from an existing producing platform and has been completed. It will share production facilities with EPL's currently producing East Cameron 263 B-1 and B-2 wells. EPL is the operator of the well and owns a 50% working interest. Houston Exploration Company (NYSE:THX) owns the remaining 50% working interest. Initial production is expected in this year's third quarter.

In the East Bay Field, EPL successfully drilled the EPL State Lease 1008 #B-59 well at South Pass 24. Located in Louisiana state waters at the mouth of the Mississippi River in approximately 10 feet of water, the well was drilled as a directional hole to a total depth of 11,259 feet TVD (13,112 feet measured depth). The well encountered a total of 42 feet of apparent net oil and gas pay in four sand intervals. Two deeper objectives were determined to be non-commercial. Therefore, the lower portion of the wellbore is being abandoned. EPL's share of the cost associated with the lower portion of the well totaled approximately $0.5 million. EPL is the operator of the well and owns a 50% working interest. The William G. Helis Company owns the remaining 50% working interest. The well will be produced from existing EPL infrastructure in the vicinity. Initial production is expected by the end of July 2003.

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