St. Mary announces they intend to drill seven new wells (6 horizontal and 1 vertical) in San Augustine and Shelby Counties in 2010

http://www.businesswire.com/portal/site/home/permalink/?ndmViewId=n...

Tony Best, CEO and President, remarked, “Our 2010 capital program reflects the expansion and improvement in our inventory over the past couple of years and gets us back on a track of growing production. We will be deploying a meaningful amount of investment in our emerging resource plays, particularly in the Eagle Ford and Haynesville shales, as we work to promote those potential resources to proved reserves.

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Haynesville shale – The Company plans to drill six (6) horizontal wells and one (1) vertical well in 2010, all of which will be drilled in San Augustine and Shelby counties, Texas. The drilling program has been designed to utilize recently acquired 3D seismic data while preserving core leasehold. This operated portion of the program constitutes roughly 64% of the Haynesville program’s capital investment in 2010. The majority of the remaining budget will support partner-operated drilling in east Texas and at Elm Grove Field in northern Louisiana

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