W&T Offshore Announces 10b5-1 Trading Plan

Download as PDF

HOUSTON, March 31, 2008 /PRNewswire-FirstCall/ -- W&T Offshore, Inc. (NYSE: WTI) announced today that Tracy W. Krohn has established a pre-arranged personal stock trading plan with a brokerage firm under Rule 10b5-1 of the Securities Exchange Act of 1934, as amended. Rule 10b5-1 enables securities holders to adopt pre-arranged stock trading plans for the sale of predetermined amounts of securities on a non-discretionary basis. Mr. Krohn has established the plan to sell less than 3.2% of his total W&T stock portfolio in connection with a final property settlement with his wife. After giving effect to all such sales under the plan, Mr. Krohn will still control approximately 52% of the outstanding shares of common stock of W&T. Mr. Krohn has served as President since he founded the Company in 1983 and as Chairman of the Board since 2004.

About W&T Offshore

Founded in 1983, W&T Offshore is an independent oil and natural gas company focused primarily in the Gulf of Mexico, including exploration in the deepwater and deep shelf regions, where it has developed significant technical expertise. W&T has grown through acquisition, exploitation and exploration and now holds working interests in over 200 fields in federal and state waters and a majority of its daily production is derived from wells it operates. For more information on W&T Offshore, please visit its Web site at http://www.wtoffshore.com

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements reflect our current views with respect to future events, based on what we believe are reasonable assumptions. No assurance can be given, however, that these events will occur. These statements are subject to risks and uncertainties that could cause actual results to differ materially including, among other things, market conditions, oil and gas price volatility, uncertainties inherent in oil and gas production operations and estimating reserves, unexpected future capital expenditures, competition, the success of our risk management activities, governmental regulations and other factors discussed in our Annual Report on 10-K for the year ended December 31, 2007 (www.sec.gov).

     Contacts:
     Manuel Mondragon, Vice President of Finance
     investorrelations@wtoffshore.com
     713-297-8024

     Ken Dennard / ksdennard@drg-e.com
     Lisa Elliott / lelliott@drg-e.com
     DRG&E / 713-529-6600

SOURCE W&T Offshore, Inc.

Released March 31, 2008