Hasira-1

The Hasira-1 exploration and appraisal well was spudded on June 6, 2013 with the dual objectives of being a low-risk appraisal well for the Jeribe reservoir from the Sarqala Discovery and an exploration commitment well for the deeper Oligocene formation that exhibited oil shows during the drilling of the Sarqala-1 well. Hasira-1 is targeting 25-50 MMBOE of Gross Block Mean Prospective Resources in the Jeribe reservoir and a further 25-50 MMBOE of Gross Block Mean Prospective Resources in the Oligocene reservoir.

The Hasira-1 well has reached a total depth of 4,181 metres, drilling through both the Jeribe and Oligocene reservoirs. Logging and initial open hole tests conducted in both reservoirs have confirmed light oil in both the Jeribe and Oligocene reservoirs. The Hasira-1 well has been successfully and safely suspended after conducting a cased-hole testing program in the high pressure Mio-Oligocene oil reservoir. During this test the wellbore experienced a considerable influx of reservoir formation debris and this resulted in the termination of the test before a definitive oil flow was possible.

Estimated rates from the clean-up flow period were 3,000 bbl/d of fluid, with up to 40 percent oil cut and the balance being drilling fluids. The oil that flowed was consistent with the oil produced from Sarqala-1; approximately 40° API and no indications of hydrogen sulphide. Future options to utilize the well bore are being evaluated.