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From Earlier: Crimson Exploration Announces Drilling Update on Woodbine and Eagle Ford Operations

Crimson Exploration Inc. (Nasdaq: CXPO) today announced an update on drilling activity in its two most active areas, the Woodbine play in Madison County, Texas and the Eagle Ford Shale in Karnes, Zavala and Dimmit counties, Texas.

In Madison and Grimes counties, TX, Crimson is actively pursuing a drilling program on our 17,500 net acre position that is prospective for the Woodbine, Lewisville and Georgetown formations, among others. The Mosley #1H (88.8% WI), our first horizontal well targeting the Woodbine formation, began flowback operations on Friday, March 9th. Initial rates have been very positive as we clean the well up on a smaller choke. We expect to bring the well up to full rate over the next few weeks and will report results at that time. The well was drilled to a total measured depth of 15,650 feet, including a 6,300 foot lateral, and was completed using 23 stages of fracture stimulation.

At present, we are also drilling two additional horizontal wells in Madison County. Approximately 1 mile north of the Mosley #1H, the Grace Hall #1H (87% WI), targeting the Woodbine formation, is drilling at 8,900 feet, toward a total measured depth of 16,230 feet. The Vick Trust #1H (75% WI), is located approximately 6 miles east of the Mosley #1H and will also target the Woodbine formation. This well is currently drilling at 5,229 feet toward a total measured depth of 15,200 feet. Lateral lengths in both wells will range between 6,000 – 7,000 feet with 20 – 25 stages of fracture stimulation. Production from these wells is expected to commence mid-second quarter.

The Glasscock A #1H (95.5% WI), located in Karnes County, Texas targeting the Eagle Ford Shale, commenced production at a gross initial production rate of 726 Boepd, or 665 barrels of oil and 365 mcf, on a 13/64th choke and 2,743 psi of casing pressure. Results from prior wells have been reported on 16/64” chokes, and Crimson expects to maintain this well at current choke size to determine the benefit of more restricted rates on EUR in this field. At the end of February, the Glasscock B #1H (93.7% WI) well spud and is currently drilling in the lateral section at 11,687 feet. The B #1H will be drilled to a total measured depth of 15,375 feet, including a 4,350 foot lateral with 18 – 20 stages of fracture stimulation. Completion operations are expected to commence in early April, with initial production expected to commence later in that month. The Glasscock acreage was acquired by Crimson in 2011 after the success experienced on the adjacent Littlepage McBride lease.

In Dimmit County, Texas, the Beeler #1 (50% WI) oil well commenced production in mid-February at a gross 24-hour initial rate of 370 Barrels of oil equivalent, or 337 barrels of oil and 195 thousand cubic feet of natural gas, on an 18/64th choke. The well was drilled to a total measured depth of 14,428 feet, including a 7,200 foot lateral, and was completed using 20 stages of fracture stimulation. The KM Ranch #2H (50% WI) well in Zavala County, our second well in that area, has been drilled to a total measured depth of 12,875 feet, including a 6,100 foot lateral, and is awaiting completion. The completion of that well will be delayed until flowback of the Beeler well and its results can be evaluated, and a determination can be made on whether any change in the completion/flowback recipe for the area should be implemented.

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