Carrizo Oil & Gas Commences Production of Texas Well

Carrizo Oil & Gas reports that the "Hankamer #1" well in Liberty County, Texas, commenced production on April 7, 2003. Carrizo is the operator of the well and owns a 40 percent working interest. The well, which was drilled in the fourth quarter of 2002, was successfully completed in the Cook Mountain interval and tested at a gross rate of 772 barrels of oil and 10,490 Mcf of natural gas (15,122 Mcfe) per day with flowing tubing pressure of approximately 7,166 psi. The Company is closely monitoring the well's performance and has increased the production rate to a current rate of approximately 525 barrels of oil and 7,000 Mcf of gas (10,150 Mcfe) per day.