Spinnaker Says Further Evaluation Needed at Thunder Hawk

The partners in the Thunder Hawk prospect located Mississippi Canyon 734 in the Gulf of Mexico report that the well reached a total measured depth (MD) of 26,520 feet, 25,885 feet true vertical depth (TVD), and the operator is currently conducting open hole evaluation. Based upon the information gathered to date, the well appears to have encountered at least 100 feet (TVD) of hydrocarbon bearing section in multiple thin sands of the middle Miocene section. The main pre-drill target was encountered and appears to be water- bearing.

The evaluation sequence now ongoing is designed to more completely assess rock and fluid properties, structural position of the well, and its proximity to salt. Following this evaluation, the well could be temporarily abandoned or sidetracked to another bottom hole location.

Dominion Exploration & Production operates the well with a 25% working interest. Other partners in the well include Murphy 37.5% WI, Spinnaker Exploration Company 25% WI and Pioneer Natural Resources 12.5% WI.