Dune Energy Inc.

Dune Energy Inc., Houston, (NYSE Alternext: DNE) reports it plans to sell certain interests in Garden Island Bay in Plaquemines Parish, Louisiana. Dune plans to sell a 75% working interest in a 20,000-foot exploratory sub-salt prospect, retaining the rights for an up-to 15% working interest in the prospect, which could contain up more than 300 billion cubic feet of gas equivalent of reserve potential. Dune will retain 100% of the rights to all the shallow potential within the field, which it says is estimated at 130 billion cubic feet equivalent covering 15 prospects. It says it plans to drill three to five of the prospects in 2009. Dune is also seeking a partner to participate in a 13,400-foot prospect on the south flank of the dome in Bayou Couba, St. Charles Parish, Louisiana. The prospect could contain 280 billion cubic feet equivalent on a gross unrisked basis. Dune says it would maintain between a 25% and 40% working interest in the prospect, which is expected to be spudded in the first half of 2009.