Petsec Updates on GOM Exploration Well

Petsec Energy has set 9 5/8th inch casing at a depth of 9,101 feet (2,774 meters) in the Main Pass 20 No. 4 well. Located in 36 feet (11 meters) of water, the well will be drilled to a total depth of 13,205 feet (4,025 meters) to target a gross reserve range of 20 to 45 Bcfe. Drilling and evaluation are expected to continue for another 15 days. Participating working interests in the well are LLOG Exploration Offshore (46.5%), Petsec Energy (30%), Phoenix Exploration (20%), Aurora Exploration (3.5%).