Probe Resources Discovers Gas in US Gulf of Mexico

Probe Resources, an oil and natural gas exploration and production company, has discovered commercial reserves of gas in multiple horizons in its East Cameron 36 No-1 well located in the US Gulf of Mexico.

The well was spud on August 5, 2008 and was drilled under budget to a total depth of 10,450ft. Production casing will be run in the well, a caisson will be over-driven, and a caisson deck will be installed. Production from the field is expected to commence in the fourth quarter of 2008. Additional drilling in the field will also commence in 2008.

In addition, the company expects to mobilize the Blake 303 rig to the East Cameron 246 location. Probe also has a drilling rig under contract to drill its South Timbalier 214 well which is currently expected to spud in mid-September 2008.

Scott Broussard, chairman and CEO of Probe Resources, said: “We are pleased that our 2008 drilling program commenced with a successful gas discovery that was consistent with our expectations.”