Mariner To Acquire 3D Seismic Data for the Deepwater Gulf of Mexico

Mariner Energy, Inc. announced that it entered into an agreement with WesternGeco to license proprietary geophysical or geological data from WesternGeco's multi-client seismic library. The agreement permits Mariner to make bulk purchases of data licenses through December 31, 2004 from WesternGeco's extensive Deepwater Gulf of Mexico database. The Company expects to acquire data covering approximately 1,000 blocks in several of the Deepwater Gulf trends targeted by Mariner.

Robert E. Henderson, chairman and chief executive officer, stated, "This agreement provides Mariner access to a significant database of recently acquired Deepwater Gulf 3D seismic data and greatly expands our 3D data inventory. We are excited about the agreement as it allows our talented geoscience staff to expand its successful program of generating and evaluating exploration and exploitation opportunities in Mariner's Deepwater Gulf niche."

Mariner Energy, Inc. is a Houston-based oil and gas exploration and production company with principal operations in the Gulf of Mexico and along the U.S. Gulf Coast. The Company is majority owned by an affiliate of Enron North America Corp. which, along with a group of Mariner employees, provided equity financing for a management-led buyout in 1996. Mariner has been an active explorer in the Gulf Coast area since the mid-1980s (initially as Trafalgar House Oil and Gas USA Inc. and then as Hardy Oil & Gas USA) and has successfully grown its production and reserve base through the drill bit. Mariner is one of the most experienced independent operators in the Deepwater Gulf of Mexico, having operated nine field developments in the Deepwater Gulf since 1995.