Magnum Hunter Brings More Gulf of Mexico Production Online

Magnum Hunter Resources has commenced production on several of its 2002 Gulf of Mexico discoveries. At the West Cameron 347 and Main Pass 107 lease blocks, production was initiated in December 2002 and January 2003, respectively. Total combined daily production is 20 MMcfd of natural gas and 300 barrels of oil (gross) or 4.5 Mmcfed net to Magnum Hunter's interest.

The West Cameron 347 well began production in late December 2002 at a rate in excess of 14 Mmcfe per day from the deepest of three productive sands in the wellbore. Magnum Hunter owns a 25% working interest in the West Cameron 347 and Remington Oil and Gas Corporation is the operator with a 50% working interest.

The Main Pass 107 #1 discovery well encountered approximately 45 feet of net pay in the main target sand and more than 200' gross laminated pay in four additional sands. The main sand tested 10.4 MMcfed and 864 Bopd. The well was brought on production in January flowing at a rate of approximately 6.0 MMcfed and 300 Bopd with 8,000 pounds of flowing tubing pressure. Magnum Hunter owns 33% working interest in the Main Pass 107 lease. Kerr-McGee is the operator with a 33% working interest.