RWE Dea Strikes Again in Libya

RWE Dea successfully continues its exploration activities in Libya with a second oil discovery in the Sirte Basin. The exploration well B1-NC193, drilled by the rig ADWOC#2, encountered two oil bearing reservoirs in a structure located in the Concession NC193. During testing a total volume of 933 bbl/d has been produced through a 32/64" choke from the Upper Satal Formation at a depth of 1115 m, and the Dahra Formation at a depth of 905 m. Further appraisal work will be required in order to confirm the scale of the anticipated reserves and the possibilities of exploiting them economically.

The drilling rig ADWOC#2 is currently being moved to the next location at C1-NC193, to commence drilling of a third well in the Concession NC193 by the beginning of April.

The Concession NC193 is part of RWE Dea's license acreage in Libya covering some 30,000 sq km in six concessions, which have been awarded to the company by the Libyan authorities in May 2003. RWE Dea is the Operator with a 100% participation interest in the project.

Following the completion of an extensive seismic program consisting of 2400 sq km 3D and 3000 km 2D, drilling activities will be intensified over the coming months to explore further promising prospects for hydrocarbons. For this purpose three drilling rigs will be employed to drill at least 8 exploration wells in the Concessions NC193, NC194, NC195, NC197 and NC198.