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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: excardog who wrote (87002)	2/12/2001 5:38:51 PM
From: excardog	Read Replies (2) \| Respond to of 95453

Some CWEI stuff: FOR IMMEDIATE RELEASE Tuesday, January 16, 2001 CLAYTON WILLIAMS ENERGY ANNOUNCES SOUTH LOUISIANA RESULTS Midland, Texas, January 16, 2001 – Clayton Williams Energy, Inc. (NASDAQ – NMS:CWEI) announced today that it currently has drilled eleven wells in South Louisiana with three dry holes. The Company has 27 additional prospects to drill this year in the Sweetlake and Plaquemines Parish areas all of which are leased and identified by 3-D seismic. CWEI believes it has established South Louisiana as a new core area for the Company. Area 1 – Sweetlake. The Company has drilled eight Miocene wells with two dry holes. CWEI has an approximate 44 percent working interest in these wells. The Sweetlake area wells and current information on them are: · Amoco #1, Cameron Parish – dry hole · Amoco #2, Cameron Parish – completed in the #33 sand, 19 feet of net pay logged, tested at 492 Bopd and 1,876 Mcfpd · Amoco #3, Cameron Parish - completed in the #31 sand, 30 feet of net pay logged, tested at 451 Bopd and 1,616 Mcfpd · Theriot No. 1, Calcasieu Parish – drilled to 1st Camerina sand, 20 feet of net pay logged, tested at 10,224 Mcfpd · Amoco #4, Cameron Parish - drilled to the #37 sand, 6 feet of net pay logged, waiting on completion (“WOC”) · Amoco #5, Cameron Parish – drilled to the #15 sand, 28 feet of net pay logged, WOC · Amoco #6, Cameron Parish – dry hole (converting to water injection) · Sweetlake Land & Oil Co. #1, Cameron Parish – drilled through Marg. Howei #5 sand, 21 feet of net pay logged, WOC. Area 2 – Plaquemines Parish. The Company has drilled three Miocene wells in the Plaquemines Parish area with one dry hole. CWEI owns an approximate 94 percent working interest in these wells. The Plaquemines Parish area wells and current information on them are: · First Equity No. 1 – dry hole · State Lease 16710 No. 1 – drilled to “M6” sand, 12 feet of net pay logged, WOC · Calvin Encalade No. 1 – drilled to “P” sand, 34 feet of net pay logged, WOC. Clayton W. Williams, President and CEO said, “We expect to have the majority of these wells on-line by March 1st and will evaluate reserves as we establish a production history. We believe we have established South Louisiana as a new core area for the Company, which will be managed out of our Houston office. I am particularly proud of Pat Reesby, our Houston manager, who has been with us for over 20 years and the consulting technical team he has assembled. The team has three geophysicists and three geologists with an average of 31 years experience in South Louisiana. With the scientific and technical capabilities that have been exhibited, we expect to add substantially more prospects to this new core area.” Clayton Williams Energy, Inc. is an independent energy company located in Midland, Texas.