Petsec Scores Again in Mobile Bay

Petsec Energy says the Mobile Bay 873 #1 well has reached target depth and discovered 13.0 meters (43 feet) of net gas pay, exceeding pre-drill expectations.

This is the third successful well in the current 3 well program, and means that pre drill targets for the overall program of 6-10 Bcfe have been met.

The well will now be cased and completed for production together with the installation of a caisson to support production facilities. The rig will then return to the Mobile Bay 951#1 well to complete that well and install a caisson. This work has already been completed on the Mobile Bay 950#1 well.

It is expected that production from Mobile Bay wells will commence approximately four months from the completion of rig activities. The Mobile Bay leases are located approximately 160 kilometers east of New Orleans.

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