Spinnaker

Spinnaker Exploration Co. said that as of June 30, the company has estimated net proved reserves were 307.2 Bcfe, an increase of 150% over estimates made as of June 30, 2000 and an increase of 68% over estimates made as of Dec. 31, 2000. The company said its proved reserve replacement ratio during the first half of 2001 was 579%. Production in the first half of 2001 was 26 Bcfe. Activities in the first half of 2001 were once again exclusively related to exploration operations. The company’s estimated net proved reserve additions during the first half of 2001 totaled 150.5 Bcfe and represented 82% of year-end 2000 reserve totals of 182.7 Bcfe. Proved reserve estimates include 56% natural gas and 44% oil.