PTTEP Logs Gas Pay at Zawtika 2 Offshore Myanmar

PTTEP says the Zawtika 2, located in the south of Zawtika-1A well, was drilled to a total depth of 3,500 meters and encountered six zones of natural gas bearing formation with a total thickness of 101.5 meters. The flow rate tests were conducted on three zones, indicating maximum natural gas flow rates of approximately 38.9 million standard cubic feet per day (MMSCFD), 32.4 MMSCFD and 38.2 MMSCFD respectively. The combined flow rate of three zones is 109.5 MMSCFD.

The highly successful result of the exploration well Zawtika 2 gives the company confidence in the potential of natural gas in southern M9 block as well as the potential of northern M11 block, which is adjacent to the south of M9 block. PTTEP will prepare development plan and continue to drill 4-5 appraisal wells within July 2007 to establish the petroleum reserves required for the development of the eastern area of M9 block.

PTTEP is the operator and holds a 100% stake in Block M9 offshore Myanmar. The block is located in the Gulf of Mataban, about 300 kilometers south of Yangon.

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