Clayton Williams Energy, Inc. currently plan to spend approximately $315.4 million on exploration and development activities in fiscal 2010 compared to their prior estimate of $281.9 million. A significant portion of the increase is attributable to the acquisition of certain leases in their Wolfberry play in Andrews County, Texas for $9.6 million, after giving effect to customary closing adjustments.

Actual expenditures during fiscal 2010 may be substantially higher or lower than these estimates since our plans for exploration and development activities may change during the year. Other factors, such as prevailing product prices and the availability of capital resources, could also increase or decrease the ultimate level of expenditures during fiscal 2010.

Based on these current estimates, approximately 96% of the company's planned expenditures for exploration and development activities for fiscal 2010 will relate to developmental prospects, as compared to approximately 60% in fiscal 2009.

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