Goodrich Completes James Lime Horizontal Well

Goodrich Petroleum has completed its initial James Lime horizontal well on its Cotton Prospect in the Angelina River Trend of Nacogdoches and Angelina Counties, Texas.

The Middlebrook 1-H well tested at the rate of 6,900 Mcf per day on a 36/64 inch choke with 1350 psi. The well was completed last week and during the flowback period produced to sales an average 4,500 Mcf per day. The well is currently producing 5,000 Mcf per day on a smaller choke size.

This is the first horizontal well drilled on the Company's leasehold in the Trend. The Company owns a non-operated 40% working interest in the well and a blended average 50% working interest in its acreage block of 69,500 gross acres.

Commenting on the production results, the Company's President Robert Turnham stated, "We are extremely pleased with the results to date on our initial horizontal James Lime well, which has the potential to add significant incremental value to our Angelina River Trend acreage. We expect to spud our next James Lime horizontal well by the end of the third quarter, and with continued success, will accelerate development of the acreage".