Artumas Spuds Mnazi Bay Appraisal Well

Artumas Group Inc. on Tuesday commenced drilling the Mnazi Bay #3 (MB-3) appraisal well in southern Tanzania.

After processing and analysis of the data obtained from the Mnazi Bay #2 (MB-2) drilling program, a drilling location for MB-3 was chosen 1.3 km to the east of the MB-2 drill site.

The MB-3 well is being drilled vertically to confirm the up structure extension of the Miocene (5500 feet) and Oligocene (6000 feet) sandstone formations of the Mnazi Bay stacked sands gas field. Target depth of MB-3 well is 9034 feet. The well will test a new exploration play in the deeper Upper Eocene formation.

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