06-08-08 Partners Bayou Bend Petroleum and Contango Operators have made a gas condensate discovery at the Mt. Moran North prospect on Eugene Island Block 10 in the Gulf of Mexico.
The prospect was jointly drilled through a joint exploration agreement.

The prospect tested the Rob-L geologic section and was drilled to a total depth of 17,004 feet (5,183 m), encountering 98 feet (29 m) of gas pay in three separate gas-bearing sands. The well was drilled using Atwood submersible Richmond in 12 feet (3.6 m) of water.
The well will now be completed and tied-in to Contango's Eugene Island 11 production facility for processing and sales. Bayou Bend holds a 12.45 % interest in the prospect.

Bayou Bend President and CEO Clint Coldren said, "We are very pleased to announce the success of the Mt. Moran North prospect as part of the Joint Exploration Agreement with Contango".
"This prospect exposes the company to reserve and production growth as we continue to focus on maturing other prospects in the Marsh Island Phase I area."