Zeta Spuds Romania Well

Zeta, the Operator and 50% working interest holder, has commenced the drilling of the Jimbolia-1ST well re-entry on the Jimbolia Concession, Romania.

The objective of the Jimbolia-1ST well re-entry is to evaluate the economic oil production potential of the Lower Pliocene VIII reservoir.

The drilling operation (including testing) is expected to take approximately one month to complete.

The Jimbolia Concession lies in the Pannonian Basin and is located approximately 40 km west of Timisoara on the Romanian-Serbian border, and covers an area of 23.9 km2.

Zeta's 50% partner on the Jimbolia Concession is Armax Gaz S.A.