HOUSTON, May 3 /PRNewswire-FirstCall/ -- Dune Energy, Inc. ("Dune" or the "Company") (AMEX:DNE) today provided an update of its Barnett Shale drilling operations, located within the core fairway of the north Texas Fort Worth Basin, in Denton County. Dune owns a 100% working interest in the wells which follow: * The Berniece Jones #2 was placed on production April 25, 2007 and is
currently producing 1.5 MMcfe/d. Dune owns a 74.2% NRI.
* The Berniece Jones #3 was placed on production April 25, 2007 and is
currently producing 1.4 MMcfe/d. Dune owns a 74.2% NRI.
* The Foster #1 was placed on production April 27, 2007 and is currently
producing 2.6 MMcfe/d. Dune owns a 75.4% NRI.
* The Denton Country Club #9 was placed on production April 30, 2007 and
is currently producing 1.8 MMcfe/d. Dune owns a 72.7% NRI.
In addition, the Forest T #1 has been drilled. The Forest T #2 is drilling ahead, and is expected to reach total depth within three weeks. At that time, both wells will be fracture stimulated. Dune owns a 100% working interest and a 75% NRI in both wells.
James A. Watt, Chief Executive Officer and President, stated, "We continue to see excellent results from our Barnett Shale drilling program, and will continue to drill and complete approximately one well per month throughout the remainder of 2007 and 2008." FORWARD-LOOKING STATEMENTS: This document includes forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning estimates of expected drilling and development wells and associated costs, statements relating to estimates of, and increases in, production, cash flows and values, statements relating to the continued advancement of Dune's projects and other statements which are not historical facts. When used in this document, the words such as "could," "plan," "estimate," "expect," "intend," "may," "potential," "should," and similar expressions are forward-looking statements. Although Dune believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Important factors that could cause actual results to differ from these forward-looking statements include the potential that the Company's projects will experience technological and mechanical problems, geological conditions in the reservoir may not result in commercial levels of oil and gas production, changes in product prices and other risks disclosed in Dune's Annual Report on Form 10-KSB filed with the U.S. Securities and Exchange Commission. DATASOURCE: Dune Energy, Inc.
CONTACT: Alan Gaines, Chairman of the Board of Dune Energy, Inc., +1-713-888-0895
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