St. Mary Provides Operational Update; Updates Performance Guidance for 2009
Mon Nov 2, 2009 4:02pm EST
http://www.reuters.com/article/pressRelease/idUS192242+02-Nov-2009+...

Haynesville shale - The Company`s first vertical Haynesville well, the USA BL #1
(SM 100% WI), was drilled and completed in northern San Augustine County, Texas.
The well had a maximum seven day sales average of 1.9 MMCFED. St. Mary believes
this is a positive development for its Haynesville program. Studies performed by
the Company and others in the industry suggest that the potential IP of a
horizontal well in the play can be estimated from a vertical well test by
multiplying by a factor of six to eight. Recent horizontal wells reported by
offset operators have also provided encouraging data points in the area. This
well was cored and logged and the Company believes the rock quality is similar
to some of the better areas of the play in Louisiana. The second vertical well
in the Haynesville program, the Blackstone PB #1 (SM 100% WI), is currently
drilling in southern Shelby County, Texas. St. Mary has been shooting 3D seismic
over its East Texas acreage and expects to have the data by the middle of the
first quarter of 2010.