Tammany Oil & Gas Acquires Offshore Field

Tammany Oil & Gas has acquired an approximate 38% working interest in West Delta 27 Field from Exxon Mobil Corp. West Delta 27 Field is located approximately eleven (11) miles southwest of Venice, La. It was discovered by Gulf Oil and Exxon (Humble) in 1957 and has produced over 2.7 trillion cubic feet of natural gas since inception of production in 1965.

Net production for the acquired interest in this field is approximately 3.0 million cubic feet of gas equivalent per day. The transaction closed on Nov. 30, 2004 and had an effective date of July 1, 2004. The purchase price was not disclosed. Financing was provided to Tammany by BlackRock Energy Capital, Ltd.