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KCS Kcs Energy

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Share Name Share Symbol Market Type
Kcs Energy NYSE:KCS NYSE Ordinary Share
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.00 -

KCS Energy, Inc. Updates Exploration Drilling Activity

07/07/2005 8:17pm

PR Newswire (US)


K C S Energy (NYSE:KCS)
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KCS Energy, Inc. Updates Exploration Drilling Activity HOUSTON, July 7 /PRNewswire-FirstCall/ -- KCS Energy, Inc. (NYSE:KCS) today announced results from three key wells. The "Austin Deep" Prospect in Goliad County, Texas (KCS WI=66%) was drilled to 14,103 feet TVD penetrating 70 feet of net gas pay in four middle Wilcox sands. The K. Jackson #2 was fracture stimulated in four stages and was placed on production at 8,900 MCFEPD flowing at 6,600 psi FTP. An offset follow-up well is planned for the third quarter targeting deeper exploratory sands and to further develop the newly discovered producing zones. At the Haley Field in Loving County, west Texas, KCS has a carried interest in the drilling of the Haley 31-2 well. The well recently reached total depth at 17,700 feet and logged several potentially productive sands by log analysis. KCS anticipates having a 17% WI in the completion operations and higher interests in offset locations. The Eichman Gas Unit #2 well (KCS WI = 25%) in Goliad County, south Texas has been drilled to total depth, logged and will be completed within the next few weeks. The well will develop three middle Wilcox pay sands discovered in the Eichman Gas Unit #1 well which is currently producing at 17 MMCFEPD. A third well is anticipated in this field in the third quarter. In addition, KCS has spudded the O'Connor Ranch #22 (KCS WI = 60%), a 13,800 foot exploratory Wilcox test on trend with the Austin Deep discovery in Goliad County, Texas. The well is expected to reach total depth within the next few weeks. Commenting on the exploration successes, James W. Christmas, Chairman and CEO stated, "Our south Texas and west Texas exploration inventory provides higher reserve potential and compliments our program drilling in the Mid-Continent area. These discoveries should increase our future production and provide developmental follow-up locations that will supplement our 2006 drilling program." The following abbreviations are utilized herein: WI -- Working Interest MCEFPD -- Thousand Cubic Feet of Natural Gas Equivalent Per Day MMCEFPD -- Million Cubic Feet of Natural Gas Equivalent Per Day TVD -- True Vertical Depth FTP -- Flowing Tubing Pressure psi -- Pounds per Square Inch This press release contains forward-looking statements that involve a number of risks and uncertainties. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are delays and difficulties in developing currently owned properties, the failure of exploratory drilling to result in commercial wells, delays due to the limited availability of drilling equipment and personnel, fluctuation in oil and gas prices, general economic conditions and the risk factors detailed from time to time in the Company's periodic reports and registration statements filed with the Securities and Exchange Commission. KCS is an independent energy company engaged in the acquisition, exploration, development and production of natural gas and crude oil with operations in the Mid-Continent and Gulf Coast regions. For more information on KCS Energy, Inc., please visit the Company's web site at http://www.kcsenergy.com/ DATASOURCE: KCS Energy, Inc. CONTACT: James W. Christmas, Chairman and CEO of KCS Energy, Inc., +1-713-877-8006; or Marilynn Meek, General Info, +1-212-827-3773, or Susan Garland, Analysts, +1-212-827-3775, both of Financial Relations Board Web site: http://www.kcsenergy.com/

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