Main Pass Block Well Plugged, Abandoned

The Main Pass Block 20 No. 4 well has reached a total depth of 12,795 feet (3,900 meters) and wireline logs have been run. The well interested a thick channelized reservoir sequence confirming the targets predicted by 3D seismic analysis. Log analysis indicate the presence of 100 feet (30 meters) of gas charged, fine-grained sand reservoir. However, further petrophysical analysis indicates the reservoir has very low permeability and is not capable of producing hydrocarbons at commercial rates. The well will be plugged and abandoned. Participating working interests in the well are LLOG Exploration Offshore (46.5%), Petsec Energy (30%), Phoenix Exploration (20%), Aurora Exploration (3.5%).

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