Of this total, approximately 66,000 net acres relate toacreage earned through its joint venture with Anadarko Petroleum Corporation andTXCO Resources. The Company has the ability to earn roughly an additional 20,000net acres through the joint venture. The remaining 159,000 net acres is outsideof the joint venture, where St Mary has 100% working interest. The Company is currently operating two drilling rigs in this program in aneffort to further delineate the potential of its acreage position One rig isdrilling in Webb County on St. Mary`s 100% working interest acreage while theother rig is drilling on joint venture acreage in Dimmitt County St. Mary hasalready drilled and cased another horizontal test on joint venture acreage, theShape Ranch 1-H in Dimmitt County, which is awaiting completion. For theremainder of 2009, the Company plans to drill two additional horizontal wells onits 100% acreage and two additional horizontal wells on the joint ventureacreage, as well as complete and interpret its ongoing 3D seismic efforts Tony Best, CEO of St.
Mary, said, “We are pleased with this result from theBriscoe G 1-H and learned a great deal from the data we collected during thedrilling and completion. While we were limited to some extent from testing thewell at its full potential due to facility constraints, we believe that this isa very favorable result for our Eagle Ford program. Our Eagle Ford acreage isshallower compared to some other areas of Eagle Ford activity in the MaverickBasin, which will allow for shorter drill times and less expensive wells. A keygoal of the Company is to add projects to our inventory that have attractivefinding and development costs and margins.
We think that this program has thepotential to provide very competitive per unit reserve additions in the future.As always, St. Mary remains focused on growing value for our shareholders and Ibelieve that the Eagle Ford could be a meaningful driver toward that goal.” INFORMATION ABOUT FORWARD-LOOKING STATEMENTSThis release contains forward-looking statements within the meaning ofsecurities laws, including forecasts and projections. The words “will,”"believe,” “anticipates,” “could be,” and “plans” and similar expressions areintended to identify forward-looking statements Although St. Mary believes theexpectations and forecasts reflected in these statements are reasonable, it cangive no assurance that they will prove to be correct. These statements involveknown and unknown risks, which may cause St.
Mary’s 2008 AnnualReport on Form 10-K and subsequent Quarterly Reports on Form 10-Q filed with theSEC Although St. Mary may from time to time voluntarily update its priorforward-looking statements, it disclaims any commitment to do so except asrequired by securities laws St Mary Land & Exploration CompanyBrent A Collins, 303-861-8140 Copyright Business Wire 2009. NORTHBROOK, Ill.–(Business Wire)–IDEX CORPORATION (NYSE: IEX) announced today that it will broadcast thecompany`s second quarter earnings conference call over the Internet on Tuesday,July 21st at 9:30 a.m CT. Chairman and Chief Executive Officer Larry Kingsleyand Vice President and Chief Financial Officer Dominic Romeo will discuss thecompany`s second quarter 2009 financial performance and respond to questionsfrom the financial community.
IDEX invites interested investors to listen to the call and view thepresentation slides, which will be available on its Web site: hear the live call, log on to the site several minutes before the discussionbegins. After clicking on the presentation icon, follow the instructions toensure your system is set up for the event, or download the correct applicationsat no charge. An archive of the webcast is available through the IDEX site afterthe call. An audio replay of the call is also available through midnight, August21st, 2009 by dialing 888.203.1112 (or 719.457.0820 for internationalparticipants) using the ID # 6940348 About IDEXIDEX Corporation is an applied solutions company specializing in fluid andmetering technologies, health and science technologies, dispensing equipment,and fire, safety and other diversified products built to its customers` exactingspecifications.