Rooster Reports Discovery in Eugene Island Area

The Rooster EI 28 Well #6 encountered 60' of high quality pay in two zones of stacked Cib Carst reservoir sands. Pressure data indicates that these zones are part of the same accumulations. The Well #6 was drilled to a total depth of 10,950' in 15 feet of water. Initial production from the lower Cib Carst sand is anticipated to level off at approximately 5-6 MMCFD/120 BOPD.

Applied Drilling Technologies drilled the well for Rooster Petroleum using Atwood's Richmond submersible rig. Chet Morrison Contractors safely installed the deck and heliport on the caisson, laid the 4" flowline to the production platform and performed the hook-up work allowing Rooster to quickly commence first production on October 4, 2010 which was approximately two weeks after completion of the well.

The #6 well is the second successful well drilled by Rooster Petroleum at EI 28 this year. In January 2010, the Rooster EI 28 Well #A-3 oil well began producing in the Tex W sand. The Company plans to continue an active drilling program in the Gulf of Mexico. Rooster intends to drill at least two more wells to delineate the Cib Carst sands on Block 28.

The Company had received approval on its application to drill the well in the shallow waters of the Gulf of Mexico on July 26, 2010. It was the third application approved by BOEMRE that satisfied the requirements of NTL 201-N05 and NL 201-N06.

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