X0303 4 2008-08-21 0 0001040593 CARRIZO OIL & GAS INC CRZO 0001257331 BOLING PAUL F 1000 LOUISIANA STREET SUITE 1500 HOUSTON TX 77002 0 1 0 0 CFO, VP, Secretary, Treasurer Common Stock 2008-08-21 4 M 0 5000 6.98 A 50987 D Common Stock 2008-08-21 4 S 0 5000 50.85 D 45987 D Employee Stock Option (right to buy) 6.98 2008-08-21 4 M 0 5000 0 D 2014-02-19 Common Stock 5000 14250 D This transaction was executed in multiple trades at prices ranging from $50.70 to $51.02. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected. The options became exercisable in cumulative annual increments of one-third of the total number of shares of common stock subject thereto, beginning February 19, 2005, the first anniversary of the date of the grant. /s/Paul F. Boling 2008-08-25