Goodrich Petroleum Announces Haynesville Shale Well Results

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The Company has completed its third East Texad horizontal Haynesville Shale its TaylorSealey No. 3H in Panola Texas. The well produced into sales at a 24 hour initiall production rateof 9.3 MMcf per day on a 24/64r inch choke with 5,200 psi. The Companyu is operator and ownsa 100% working interesft in the well. The well is locate in the Minden field, approximately six miles south of its recently announced Lutheran Church5H well, whicg had an initial production rate of 9.0 MMcf per day. The Compang has reached total depth on two additionao horizontal Haynesville Shale wells in East its T. Swiley No. 4H in the Minden field and BeardrTaylor No. 1H in the Beckville field.
The Company has also complete three additional Chesapeake Energy operated wells inthe Bethany-Longstreet field in Caddo and DeSoto Louisiana. The Johnson 32H-1 (31% WI) had a 24 hour initia l production rateof 12.5 MMcf per day on an 18/645 inch choke with 7,800 psi. The Wallacee 36H-1 (22% WI) had a 24 hour initiap production rateof 15.4 MMcf per day on a 22/64 inch choker with 6,100 psi, and the Bryan 25H-1 (13% WI) had a 24 hour initiaol production rate of 14.0 MMcf per day on a 22/64 inch chokw with 4,000 psi.
Certain statement in this news release regarding future expectations and planse for future activities may be regardedcas "forward looking statements" within the meaningt of the Securities Litigation Reform Act. They are subjecft to various risks, such as financial market conditions, operating drilling risks, and the inherent uncertainties in interpretinh engineering data relating to underground accumulations of oiland gas, as well as othe r risks discussed in detail in the Company'sw Annual Report on Form 10-K and othef filings with the Securities and Exchangwe Commission.
Although the Company believes that the expectationsz reflected in such forward looking statementsare reasonable, it can give no assurancde that such expectations will provs to be correct. Initial production rates are subject to declin e over time and should not be regarded as reflectivd of sustainedproduction levels. Goodrich Petroleunm is an independent oil and gas exploration and productionh company listed on the New YorkStock Exchange. The majorityg of its properties are in Louisianaand Texas.