*Date of its annual stockholders' meeting/merger transaction vote *Approval to list its stock on the New York Stock Exchange under the symbol "ME" *Registration statements declared effective by SEC HOUSTON, Feb. 14 /PRNewswire/ -- Mariner Energy, Inc. today announced that its annual stockholders' meeting is scheduled to occur on March 2, 2006. At the meeting, Mariner stockholders will vote on the previously-announced merger transaction in which Forest Oil Corporation will spin-off its offshore Gulf of Mexico operations to its shareholders and immediately thereafter merge those operations with a wholly-owned subsidiary of Mariner in a stock-for-stock transaction. Stockholders will also elect three directors and vote on other merger-related matters. If stockholders approve the transaction, the merger is expected to be completed later that day. Mariner's stock has been approved for listing on the New York Stock Exchange upon completion of the merger. Its common stock will trade under the symbol "ME" and is expected to begin trading in the NYSE when-issued market as early as February 16, 2006. Regular way trading on the NYSE will begin following completion of the merger transaction. Both the Form S-4 registration statement relating to the proposed merger transaction and the Form S-1 registration statement covering Mariner common stock sold privately in March 2005 have been declared effective by the Securities & Exchange Commission. Mariner Energy, Inc. is an independent oil and gas exploration, development and production company with principal operations in the Gulf of Mexico and the Permian Basin in West Texas. For more information about Mariner, please visit its website at http://www.mariner-energy.com/. FORWARD-LOOKING STATEMENTS This news release includes 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. All statements, other than statements of historical facts, that address activities that Mariner assumes, plans, expects, believes, projects, estimates or anticipates (and other similar expressions) will, should or may occur in the future are forward-looking statements. The forward-looking statements provided in this press release are based on the current belief of management of Mariner based on currently available information as to the outcome and timing of future events. The forward- looking statements are not guarantees of the future performance of Mariner, and actual results may vary materially from the results and expectations discussed. For instance, although Mariner, Forest Oil Corporation and subsidiaries of Mariner and Forest have signed a merger agreement, there is no assurance that they will complete the proposed merger. Additionally, if the merger is not completed, Mariner's common stock may not be listed on the New York Stock Exchange. The merger agreement will terminate if Mariner does not receive the necessary approval of its stockholders, and also may be terminated if the parties fail to satisfy conditions to closing. Additional risks and uncertainties related to the proposed merger are described in Mariner's S-4 registration statement and S-1 registration statement as filed with the Securities and Exchange Commission. This material is not a substitute for the S-4 registration statement filed by Mariner with the Securities and Exchange Commission in connection with the merger transaction or the proxy statement/prospectus-information statement to be mailed to stockholders. Investors are urged to read the proxy statement/prospectus-information statement, which contains important information, including detailed risk factors. The proxy statement/prospectus- information statement and other documents filed by Mariner with the Securities and Exchange Commission are available free of charge at the SEC's website, http://www.sec.gov/, or by directing a request to Mariner Energy, Inc., One BriarLake Plaza, 2000 West Sam Houston Parkway South, Suite 2000, Houston, TX 77042, Attention: Investor Relations. Mariner, Forest and their respective directors and executive officers may be considered participants in the solicitation of proxies in connection with the proposed transaction. Information about the participants in the solicitation is set forth in the proxy statement/prospectus-information statement. This news release does not constitute an offer to sell or a solicitation of an offer to buy any shares of Mariner common stock. First Call Analyst: FCMN Contact: DATASOURCE: Mariner Energy, Inc. CONTACT: Rick G. Lester, Vice President and Chief Financial Officer of Mariner Energy, Inc., +1-713-954-5551 Web site: http://www.mariner-energy.com/

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