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3/8/2010 - CONTANGO COMMENCES REPAIRS ON 20-INCH PIPELINE |
| Contango Oil and Gas reveals that repairs are underway on the company’s recently ruptured 20-inch pipeline that runs from its production platform at EI-11 to EI-63. Contango estimates that the total cost to repair the pipeline will be approximately $2 million, which the company believes will be covered by insurance policies subject to a deductible of $0.5 million. The work is expected to be completed by the end of March 2010. The company has an approximate 53% ownership interest in the pipeline. |
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