Mariner Energy Slowly Restoring Production in the Gulf of Mexico

Mariner Energy says approximately 60 MMcfe per day of production net to Mariner's interest was shut-in initially as a result of the effects of Hurricane Rita. Approximately 18 MMcfe per day of production has been restored, and we anticipate that a majority of the remaining shut-in production will be back on line within the next two to four weeks. Based upon visual inspections, damage to Mariner's operated platforms appears minimal; however, production from three of the platforms remains shut-in pending recommencement of operations at the associated onshore pipelines. First reports from operators of other facilities that handle our production indicate varying degrees of damage to their facilities, the full extent of which may not be known for some time. We are not aware of any damage to any of our subsea facilities or flow lines at this time.

The Noble Joe Alford submersible rig engaged in drilling operations on Mariner's East Cameron Block 79 property was moved off location by Hurricane Rita. We are currently evaluating the resulting damage to the rig and well. That operation as well as other planned operations will be delayed as a result of the hurricane.

The information provided herein regarding production and estimated delays is based on preliminary assessments and may change as further information becomes available. Mariner will provide an update regarding the status of its operations as meaningful new information is obtained.