Carrizo Oil & Gas, Inc. Announces Significant Matagorda County Discovery Well And Commencement of Production From Starr County Vicksburg Well

Apr 12, 2001, 01:00 ET from Carrizo Oil & Gas, Inc.

    HOUSTON, April 12 /PRNewswire/ -- Carrizo Oil & Gas, Inc. (Nasdaq:   CRZO)
 today announced that the recently drilled "Pitchfork Ranch A-90 Well #1" (Zag
 Prospect) in the Company's Matagorda Project Area in Matagorda County, Texas,
 tested at a gross rate of 10,499 Mcf of gas and 1,530 barrels of condensate,
 i.e. 19,679 Mcfe, per day on a 12/64 inch choke with flowing tubing pressure
 of approximately 6,100 pounds per square inch from the Discorbis sand
 interval.  Carrizo is the operator of the well and owns a 56.2 percent working
 interest.  The Company is currently installing production facilities and
 expects the well to commence production in the next ten days at an anticipated
 initial production rate of approximately 14,000 Mcfe per day.  To date, the
 Company has participated in nine wells in the project area, seven of which
 have been successful.  At least four additional wells are budgeted to be
 drilled in the project area in 2001.
     In addition, the previously announced "S. Neblitt #3" Vicksburg well in
 Starr County, Texas commenced production on March 19, 2001.  The well logged
 180 feet apparent net pay and the rate of production has been gradually
 increased to a current stabilized sales rate of approximately 8,300 Mcfe per
 day.  Carrizo has a 28.64 percent working interest in the well.  Another well
 is now planned to be drilled in the prospect area.
     Carrizo Oil & Gas, Inc., is a Houston-based energy company engaged in the
 exploration, development, exploitation and production of oil and natural gas
 in proven onshore trends along the Texas and Louisiana Gulf Coast regions.
 Carrizo controls significant prospective acreage blocks and utilizes advanced
 3-D seismic techniques to identify potential oil and gas reserves and drilling
 opportunities.
     Statements in this news release, including but not limited to those
 relating to the results, potential, risk profiles, schedule, number, prospects
 or estimates for current or future drilling or wells, estimated anticipated
 initial production rates, expected timing of commencement of production,
 number of additional wells budgeted or expected to be drilled and other
 statements that are not historical facts are forward looking statements that
 are based on current expectations.  Although the Company believes that its
 expectations are based on reasonable assumptions, it can give no assurance
 that these expectations will prove correct.  Important factors that could
 cause actual results to differ materially from those in the forward looking
 statements include the results and dependence on exploratory drilling
 activities, operating risks, oil and gas price levels, land issues,
 availability of equipment, weather and other risks described in the Company's
 filings with the Securities and Exchange Commission.
 
      Contact:  Carrizo Oil & Gas, Inc.
                B. Allen Connell, Director of Investor Relations
                Frank A. Wojtek, Chief Financial Officer
                (281) 496-1352
 
 

SOURCE Carrizo Oil & Gas, Inc.
    HOUSTON, April 12 /PRNewswire/ -- Carrizo Oil & Gas, Inc. (Nasdaq:   CRZO)
 today announced that the recently drilled "Pitchfork Ranch A-90 Well #1" (Zag
 Prospect) in the Company's Matagorda Project Area in Matagorda County, Texas,
 tested at a gross rate of 10,499 Mcf of gas and 1,530 barrels of condensate,
 i.e. 19,679 Mcfe, per day on a 12/64 inch choke with flowing tubing pressure
 of approximately 6,100 pounds per square inch from the Discorbis sand
 interval.  Carrizo is the operator of the well and owns a 56.2 percent working
 interest.  The Company is currently installing production facilities and
 expects the well to commence production in the next ten days at an anticipated
 initial production rate of approximately 14,000 Mcfe per day.  To date, the
 Company has participated in nine wells in the project area, seven of which
 have been successful.  At least four additional wells are budgeted to be
 drilled in the project area in 2001.
     In addition, the previously announced "S. Neblitt #3" Vicksburg well in
 Starr County, Texas commenced production on March 19, 2001.  The well logged
 180 feet apparent net pay and the rate of production has been gradually
 increased to a current stabilized sales rate of approximately 8,300 Mcfe per
 day.  Carrizo has a 28.64 percent working interest in the well.  Another well
 is now planned to be drilled in the prospect area.
     Carrizo Oil & Gas, Inc., is a Houston-based energy company engaged in the
 exploration, development, exploitation and production of oil and natural gas
 in proven onshore trends along the Texas and Louisiana Gulf Coast regions.
 Carrizo controls significant prospective acreage blocks and utilizes advanced
 3-D seismic techniques to identify potential oil and gas reserves and drilling
 opportunities.
     Statements in this news release, including but not limited to those
 relating to the results, potential, risk profiles, schedule, number, prospects
 or estimates for current or future drilling or wells, estimated anticipated
 initial production rates, expected timing of commencement of production,
 number of additional wells budgeted or expected to be drilled and other
 statements that are not historical facts are forward looking statements that
 are based on current expectations.  Although the Company believes that its
 expectations are based on reasonable assumptions, it can give no assurance
 that these expectations will prove correct.  Important factors that could
 cause actual results to differ materially from those in the forward looking
 statements include the results and dependence on exploratory drilling
 activities, operating risks, oil and gas price levels, land issues,
 availability of equipment, weather and other risks described in the Company's
 filings with the Securities and Exchange Commission.
 
      Contact:  Carrizo Oil & Gas, Inc.
                B. Allen Connell, Director of Investor Relations
                Frank A. Wojtek, Chief Financial Officer
                (281) 496-1352
 
 SOURCE  Carrizo Oil & Gas, Inc.