Eromanga Hydrocarbons Finds Oil in Block 430 in Brazil

Eromanga Hydrocarbons has encountered oil shows with its 1-NORD-1SE well located in Block 430 of the Sergipe Alagoas Basin in Brazil.

Total depths was reach at 1,327 meters and the basement was encountered approximately 100 meters below prognosis. Oil shows were encountered in basement over the intervals 1,180 – 1,299 meters giving a total gross interval of 111 meters. In addition, the previously reported oil shows were found to extend from 1,130 to 1,168 meters, give a gross interval of 38 meters. Well logging will begin shortly.

The well at Block 430 is the second in a two well program in the Sergipe Alagoas Basin that Eromanga is undertaking with its local partner Gavea. The first well, on block 330, was completed as a future producer on March 25, 2008. Gavea is the operator and holds the remaining 60% interest in both blocks 330 and 430 where the wells are located. ERH's interest in the joint ventures is subject to ANP approval.

Following this program, Eromanga expects to drill up to three wells in the Reconcavo Basin as part of its joint venture with Silver marlin (ERH 50%).