Artumas Unveils Plans for Tanzania and Mozambique

Artumas Group says that the next stage of its exploration and development program in Tanzania and Mozambique, which will launch Artumas into high impact crude oil exploration in Mozambique, and move the company closer to commercializing its gas resource base in Tanzania.

Mozambique Exploration Work Program
In Mozambique, the results of 2D and 3D seismic acquisition will focus exploration drilling on those prospects with the highest chance of discovering commercial quantities of crude oil.

With nearly 50 seismic leads in the Rovuma Onshore Block, and more than 100 leads in the Area One Offshore Block (equivalent in size to more than 400 U.S. Gulf of Mexico blocks), the 2D and 3D seismic programs will significantly improve subsurface imaging in the most crude oil prospective areas of both Blocks.

Acquisition of 3,300 square kilometers of 3D seismic over the deepwater areas of the Area One Offshore Block will begin January 2008, and acquisition of a large 2D seismic program on the Onshore Block will begin shortly thereafter. Artumas is operating the onshore seismic acquisition while partner Anadarko is operating the offshore seismic acquisition.

A minimum of seven wells are planned on the Offshore Block, and a minimum of one well is planned for the Onshore Block.

Tanzania Development and Exploration Work Program
3D seismic acquisition over the Mnazi Bay development area will be used to optimize appraisal and development locations for the Mnazi Bay and Msimbati Gas fields.

An appraisal and development-drilling program will commence after the 3D seismic has been interpreted, gas commercialization negotiations are advanced, and a drilling rig can be mobilized to the Mnazi Bay area of Tanzania.

Eight well locations will fully develop the Mnazi Bay, Mnazi Peripheral and Msimbati Sands, and provide the gas required for one or more large scale gas commercialization projects.