HOUSTON, March 20 /PRNewswire-FirstCall/ -- W&T Offshore, Inc. (NYSE: WTI) today announces that it was the apparent high bidder on four Outer Continental Shelf (OCS) blocks offered in the Central Gulf of Mexico Lease Sale 206 held yesterday by the U.S. Minerals Management Service (MMS). The four apparent high bids were on Ship Shoal 155 and 256, Grand Isle 108 and Ewing Bank 953. Ewing Bank 953 is in the deepwater, all others are on the conventional shelf. W&T Offshore's investment will be approximately $3.255 million, which reflects a 100% working interest. High bids are subject to MMS review and acceptance.
About W&T Offshore
Founded in 1983, W&T Offshore is an independent oil and natural gas company focused primarily in the Gulf of Mexico, including exploration in the deepwater and deep shelf region, where it has developed significant technical expertise. W&T has grown through acquisition, exploitation and exploration and now holds working interests in over 150 fields in federal and state waters and a majority of its daily production is derived from wells it operates. For more information on W&T Offshore, please visit its Web site at www.wtoffshore.com
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements reflect our current views with respect to future events, based on what we believe are reasonable assumptions. No assurance can be given, however, that these events will occur. These statements are subject to risks and uncertainties that could cause actual results to differ materially including, among other things, market conditions, oil and gas price volatility, uncertainties inherent in oil and gas production operations and estimating reserves, unexpected future capital expenditures, competition, the success of our risk management activities, governmental regulations, uncertainties and other factors discussed in our Annual Report on 10-K for the year ended December 31, 2007 (www.sec.gov).
Contacts: Manuel Mondragon, Vice President, Finance firstname.lastname@example.org 713-297-8024
Ken Dennard / email@example.com Lisa Elliott / firstname.lastname@example.org DRG&E / 713-529-6600
SOURCE W&T Offshore, Inc. 03/20/2008 CONTACT: Manuel Mondragon, Vice President, Finance of W&T Offshore +email@example.comKen Dennard, firstname.lastname@example.org Lisa Elliott, email@example.com, both of DRG&E +1-713-529-6600, for W&T Offshore, Inc. /Web site: http://www.wtoffshore.com (WTI)