Clayton Williams' Big Bill Simpson Well Encounters Gas

Clayton Williams Energy provides an update on the status of the Big Bill Simpson No. 1, its Bossier wildcat test in Leon County, Texas. The Big Bill, which is the first well in its East Texas Bossier exploration program, has encountered encouraging gas shows, and the Company has set and cemented production casing, and is currently rigging down the drilling rig to prepare for a completion attempt in the deep Bossier to test these shows.

The well has been drilled to 19,469 feet where completion will be attempted in the deep Bossier. The Company owns a 70% interest in this well, which is located approximately 30 miles from the nearest commercial Bossier producers. The Company currently has spent approximately $9 million (net to its interest) on the well and expects to spend an additional $3 million for completion.

Clayton Williams Energy, Inc. is an independent energy company located in Midland, Texas.