Contango Oil & Gas Company (Contango) is a natural gas and oil company. The Company’s business is to explore, develop, produce and acquire natural gas and oil properties primarily offshore in the Gulf of Mexico. Contango Operators, Inc. (COI), its wholly owned subsidiary, acts as operator on certain offshore prospects. Contango, through its wholly owned subsidiary COI, and its partially owned subsidiaries, Republic Exploration, LLC (REX) and Contango Offshore Exploration, LLC (COE), conducts exploration activities in the Gulf of Mexico. As of August 31, 2009, Contango, through COI, REX and COE, had an interest in 25 offshore leases. As of June 30, 2009, the Company owned a 32.3% interest in REX and a 65.6% interest in COE.