HOUSTON, Mar 02, 2011 (BUSINESS WIRE) --

Crimson Exploration Inc. (NasdaqGM: CXPO)announced today an operational update for 10 wells (7 operated, 3 operated by others) currently drilling or completing, or recently put on production, in its primary focus areas of East Texas, Southeast Texas, and South Texas. The Company also reported that its proven reserves at December 31, 2010 were 166.5 Bcfe, a 71% increase over year-end 2009 proven reserves, and a reserve replacement rate of 634% of 2010 production. Crimson's 2011 capital program of $60 million will include participation in approximately 12 wells (11 operated) across our property base and will emphasize oil and/or liquids-rich targets.

East Texas Mid-Bossier/Haynesville

At the Fairway Farms Prospect Area in San Augustine, County, TX, Crimson participated in the recently completed Halbert Trust #1 well (29% WI). The well was completed in the Mid-Bossier formation at a total measured depth of approximately 17,800 feet, including a 4,200 foot lateral and 14 frac stages. The well tested at a 24 hour restricted gross rate of 10 Mmcfpd on a 16/64 choke, with flowing tubing pressure of approximately 8,925 psi. This well, operated by a private Dallas-based company, is Crimson's first well in the Fairway Farms Prospect Area and fourth well overall in San Augustine County. We continue to employ the strategy of restricting initial flow rates, and maintaining higher pressures, to maximize Estimated Ultimate Recovery ("EUR").

In Crimson's Bruin Prospect Area, the Grizzly #1 well has been on production for approximately 210 days, is currently producing at a rate of 5.0 Mmcfpd with flowing tubing pressure of 4,300 psi on a 15/64 choke and has a cumulative production of just over 1.4 Bcf. The Gobi #1 well has been on production for approximately 100 days, is currently producing at a rate of 9.3 Mmcfpd with flowing tubing pressure of 7,600 psi on a 15/64 choke and has a cumulative production of just over 0.8 Bcf. Also in the Bruin Prospect Area, Crimson has completed drilling the Blue #1 (71% WI) targeting the Haynesville Shale, reaching a total measured depth of 18,500 feet, including a 4,500 foot lateral, with completion operations currently in progress, and production scheduled to commence in April. The rig has been moved to the Kodiak #1 location (69% WI), targeting the Mid-Bossier Shale, and is currently drilling below 13,250 feet in the lateral section.