Crimson Exploration Inc. Provides Operational Update

Business Wire, May 6, 2008

HOUSTON -- Crimson Exploration Inc. (OTCBB:CXPO) today announced estimated first quarter 2008 production and an update on 2008 drilling activity.

Production Update

Crimson reported production of an estimated 4.8 Bcfe of natural gas equivalents, or approximately 52,600 Mcfe per day, during the first quarter of 2008, compared with 542,818 Mcfe, or 6,031 Mcfe per day, produced during the first quarter of 2007. The dramatic increase in production is primarily attributable to production from the South Texas and Gulf Coast producing assets acquired from EXCO Resources, Inc. in May 2007, as well as new production added at various points during 2008 resulting from the success of our 2007 and 2008 drilling programs. For the month of April we averaged approximately 53,000 Mcfe per day.

Drilling Activity

Liberty County, Texas

During the first quarter we successfully completed four wells in the Felicia field; two of which we operated. The Cimarex-operated Dunagan #1 (28.4% WI), drilled at the end of 2007, was completed in mid-January and was put on production shortly thereafter at a gross initial rate of 4,800 mcfe per day. The Henderson #6 exploitation well (75% WI) was completed in the Yegua sand at approximately 11,000 feet and commenced production on April 1st at an initial gross rate of approximately 3,000 Mcfe per day. The Henderson #5 exploitation well (75% WI) was also completed in the Yegua sand at approximately 11,600 feet and commenced production on April 25th at an initial gross rate of approximately 5,000 Mcfe per day. Also in the Felicia field area, we participated for a 28.4% WI in the Cimarex-operated PIC Realty Corp #1 exploitation well that was successfully completed in the Yegua sand at approximately 11,000 feet, commenced production on March 19th, 2008 and has gradually increased in rate to its current average rate of approximately 17,000 Mcfe per day. These three additional wells in Liberty County give us an 86% success rate on a total of seven wells in the area since we acquired it in May 2007. The Catherine Henderson #6 (75% WI), targeting the Cook Mountain in the Willis Marsh field in Liberty County, is currently drilling at 9,229 feet toward a 13,500 foot objective. We are very pleased with the results in the Liberty County area thus far, and this area will be an important part of our drilling program for the remainder of 2008, with six to eight more exploitation wells planned for the year.

Lavaca County, Texas - SW Speaks

We currently are drilling our first operated well in the SW Speaks Field, the Migl-Quinn #9 (34.4% WI) development well, and are at 8,230 feet, targeting the Wilcox at 15,000 feet. We anticipate drilling one exploitation well and two more development wells in this area during 2008.

Brooks County, Texas - Cage Ranch

The Cage Estate #G-4 development well (51.8% WI) is currently drilling at 1,300 feet toward a 10,000 foot Loma Blanco objective. The G-4 is the first of a four well drilling program (two development wells and two exploitation wells) in this field for 2008.

South Texas - Lobo (20% -25% WI)

We participated in three non-operated exploitation wells within the Lobo/Perdido Trend of South Texas (average depth of 12,000 feet) during the first quarter in Zapata County, Texas, all of which were successful and have been put on stream at a combined total gross production rate of 10,400 Mcfe per day. These three wells give us a 75% success rate on a total of 12 wells drilled to date in this area.

Sabine Lake (15% WI) & West Cameron 432 (15% WI)

Initial production commenced in January on the Sabine Lake 19095 #1 well at an average gross rate of approximately 5,700 Mcfe per day. The West Cameron 432 #1, which was drilled in 2007, commenced initial production on April 17, 2008 at an average gross rate of approximately 15,000 Mcfe per day.

Other

We participated for an approximate 4% non-operated WI during the first quarter in a successful Middle Vicksburg exploitation well in Hidalgo County, Texas that commenced production at a gross rate of approximately 3,600 Mcfe per day. This represents the fourth successful well in this area since we acquired it in May 2007.

Sale of Fort Worth Barnett Shale Interests (12.5% WI)

On April 30th, the third closing occurred on our previously disclosed sale of our interest in the Barnett Shale, bringing the total proceeds received to-date to approximately $34 million, resulting in an approximate two for one return on our investment within a one-year time period. A final close is anticipated by the end of May, but minimal additional consideration is anticipated.

This press release includes "forward-looking statements" as defined by the Securities and Exchange Commission ("SEC"). Such statements include those concerning Crimson's strategic plans, expectations and objectives for future operations. All statements included in this press release that address activities, events or developments that Crimson expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on certain assumptions Crimson made based on its experience and perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond Crimson's control. Statements regarding future production, revenue and cash flow are subject to all of the risks and uncertainties normally incident to the exploration for and development and production of oil and gas. These risks include, but are not limited to, commodity price changes, inflation or lack of availability of goods and services, environmental risks, drilling risks and regulatory changes and the potential lack of capital resources. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Please refer to our filings with the SEC, including our Form 10-K for the year ended December 31, 2007 for a further discussion of these risks.