DevX Energy Announces Discovery in Kenedy County, Tx

DevX Energy, Inc. announced the discovery of Vicksburg pay in the Clark-Sain No.2 well located in Kenedy County, Texas. The well was drilled to a total depth of 12,732 feet and logged over 65 feet of pay. The well was perforated and prior to stimulation flowed 2.9 million cubic feet of gas per day on a 12/64 inch choke with 4300 pounds per square inch flowing tubing pressure. Surface facilities are currently being constructed and the well will be fracture stimulated once it is tied into the pipeline. First sales should commence in four to six weeks. Up to four additional fault blocks have been identified from 3-D seismic on the acreage in which the Company owns a 20 percent working interest.

Joseph T. Williams, Chairman and President said, "I am very pleased with our exploration program that was initiated with the recapitalization of the Company in October of last year. The acreage surrounding the Clark-Sain discovery should provide additional drilling opportunities for us. We currently estimate that four to five additional follow-up wells will be budgeted for next year." This discovery is part of one of the three joint venture arrangements the Company has undertaken, two focused on south Texas prospects and the other on west Texas prospects.