Ultra Petroleum Starts New Production in China

Ultra Petroleum reports that first oil was achieved on July 6th at their CFD 11-3 & CFD 11-5 fields located at Bohai Bay, China. The new developments are currently producing approximately 9,000 barrels per day from 2 wells. The fields should have 4 wells on production by the end of August with gross production in the range of 10,000 -- 15,000 barrels per day at that time. Ultra's interest in the two new fields is approximately 9%.

Michael Watford, Ultra's Chairman President and CEO said that the company is pleased with the initial oil production at the two new fields in Bohai Bay.

Ultra Petroleum is an independent, exploration and production company focused on developing its long life natural gas reserves in the Green River Basin of Wyoming, and oil reserves in Bohai Bay, offshore China.

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