Novus Petroleum Makes Discovery Offshore Oman

Novus Petroleum has made natural gas discovery offshore Oman. The Tibat 1 well was drilled to its target depth of 2,850 meters near the Bukha field in Block 8 near the Musandam Peninsula. This discovery is part of the Northern Arabian gas condensate play and that it has Cretaceous limestone reservoirs similar to those in the Bukha Field. The well was drilled using Transocan Inc.'s jackup, Interocean III.

The Bukha natural gas field is operated by Novus Oman Ltd. Participants in the Tibat 1 well are Novus as operator with 40%; Atlantis Holding with 25%; Eagle Energy (Oman) Ltd. with 10% and LG International with the remaining 25%.