Capco Updates Drilling Activity In Louisiana

Capco Energy, Inc. announced that it has successfully completed the first phase of operations by re-entering the Capco-Broussard #1 to a depth of 11,412 feet to verify the integrity of the well-bore casing. A drilling rig will now be contracted to re-enter the well and drill to a depth of 17,800 feet to test the Camarina sands. This interval appears to have a thickness of about 250 feet of gas bearing sands as interpreted from the open-hole logs and other producers in the area. Capco owns a 93% working interest and a 68.9% net revenue interest in this well. A successful "discovery" of the magnitudes indicated by the logs could increase Capco's hydrocarbon reserves significantly.