THE CORPORATE LIBRARY

Related Party Transactions and Outside Related Director Information

W&T Offshore, Inc. (WTI)

4/6/2006 Proxy Information

Mr. KrohnÕs mother is married to Mr. Freel.

W&T Offshore paid Adams and Reese, LLP legal fees aggregating $922,000 in 2004 and $411,000 in 2005. Virginia Boulet is special counsel to Adams and Reese LLP, but is currently on leave of absence.

Brooke Companies, Inc. provides people to fill temporary staffing and employee placement needs of the Company from time to time. The Company paid Brooke Companies approximately $246,000 in 2005, $426,000 in 2004 and $300,000 in 2003. Susan Krohn, the wife of Tracy W. Krohn, owns 100% of Brooke Companies. Brooke Companies currently provides staffing services to our Company, and we expect that it will continue to provide those services for the foreseeable future.

Effective January 1, 2004, the Company entered into a management agreement with W&T Offshore, LLC pursuant to which the Company manages certain oil and gas properties. The Company is paid $8,000 per month for these services. Tracy W. Krohn and Jerome F. Freel are the owners of W&T Offshore, LLC.

On February 2, 2005, the Company closed its initial public offering of common stock. Tracy W. Krohn, W. Reid Lea, Joseph P. Slattery and Jeffery M. Durrant, sold a total of 2,666,442 shares of common stock in the initial public offering. Funds managed by Jefferies Capital Partners, with which Messrs. Katz and Luikart are associated, sold a total of 9,988,821 shares of common stock in the initial public offering. Additionally, Steve Landry, who was not employed by the Company as an executive officer until October 1, 2005, sold 8,647 shares of common stock in the initial public offering. The Company paid all legal, accounting, engineering, printing and certain other expenses and all registration and listing fees associated with the initial public offering. These expenses and fees aggregated approximately $2.5 million. The Company also agreed to indemnify and hold harmless the underwriters in the initial public offering for certain liabilities in connection with the offering.

During 2005, the Chief Executive Officer reimbursed the Company $0.4 million for personal use in 2005 of an aircraft in which it owns a fractional interest.

The grandson of Jerome F. Freel is employed by an insurance agency that writes certain insurance coverage for the Company. Mr. FreelÕs personal commissions on the writing of such insurance totaled approximately $51,000 and $47,000 in 2005 and 2004, respectively. In each case, the cost of premiums were in excess of $60,000, and the business was awarded to Mr. Freel as the low bidder in a competitive process in which the Company received at least one other quote.

The Company paid Adams and Reese, LLP legal fees aggregating $922,000 in 2004 and $411,000 in 2005. Virginia Boulet is special counsel to Adams and Reese LLP, but is currently on leave of absence.