Spinnaker to Bring EC312 Discovery Online by Year-End

Spinnaker says that three wells (two gas, one oil) have been drilled successfully on East Cameron 312 in the Gulf of Mexico. A two-level tripod facility has now been installed at the location in 208 feet of water. Oil and gas export lines, as well as a 2-inch diameter line for use in gas lift operations, will be installed shortly to a nearby platform. Modifications are currently being made to the host platform.

First production is expected during the fourth quarter of 2003. Spinnaker operates the field with a 100% working interest.