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Harvest Natural Spuds Well Offshore Gabon

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Panoro Energy ASA announced that drilling of the Tortue Marine-1 prospect on the Dussafu Marin Permit, offshore Gabon has commenced. The well is being drilled with the Saipem Scarabeo 3 (mid-water semisub) drilling rig.

The Tortue Marin well is located about 31 miles (50 kilometers) offshore Gabon in 387 feet (118 meters) water depth. The well will target stacked reservoirs at Madiela (post-salt), Gamba and Dentale levels (pre-salt). The Dussafu joint venture's gross pre-drill estimate for the three reservoirs is a consolidated mean resource of 28 MMbbls with a 52 percent chance of success. The drilling program is expected to take around 40 days to reach total depth.

Dussafu Marin is operated by Harvest Dussafu, B.V., an affiliate of Harvest Natural Resources, Inc. Panoro Energy has a 33.33 percent stake held through a subsidiary company.

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