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                                                                    EXHIBIT 23.1

                    CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS

         As independent public accountants, we hereby consent to the
incorporation by reference in this registration statement of our report dated
September 27, 2000, on the audited financial statements of Contango Oil & Gas
Company included in its registration statement on Form SB-2 filed with the
Securities and Exchange Commission on October 25, 2000, as amended, and to all
references to our Firm included in this registration statement.



                                            ARTHUR ANDERSEN LLP

Houston, Texas
March 12, 2001