Intrepid Drilling Sets Pipe on Discovery In Lafourche Parish, Louisiana

Intrepid has set intermediate 7 1/2 inch casing to 12,990 feet on our Alvin Pierce #1 well in West Cut Off, Louisiana. We drilled to a depth of 13,025 feet and logged 35 feet of oil pay full to base in the Tex W-7 interval. The top of the Tex W-8 was penetrated but not drilled through due to excess pressure and gas flow which required 12.2 pound mud to stabilize.

We drilled this untested fault block west of the prolific Cut Off Field based on recently acquired 3-D data. We plan to resume drilling through the Tex W-8 and test the UL-1 interval at approximately 13,450 feet. A future well will be drilled to the deeper UL-2 interval.