Goodrich Releases Squaw Creek Results

Goodrich Petroleum Corp.

Goodrich Petroleum Corp. has issued its production results from the initial well on its Squaw Creek Prospect, the LL&E No. 202, in the Lafitte Field in Jefferson Parish, La.

The company previously announced in its press release of May 8, 2006 that it had drilled and logged approximately 100 feet of net pay in four separate sands and the well was being deepened to test the 8,900' sand. The well encountered additional pay in the 8,900' sand, increasing the total net pay in five sands to approximately 110'. The well has been dually completed in two of the five sands, placed on production and is currently producing at a combined daily rate of approximately 830 barrels of oil, 375 Mcf of gas and 18 barrels of water. The company owns an approximate 49% working interest in the well.