MOG Continues Drilling Offshore Italy at Ombrina Mare 2

Mediterranean Oil & Gas Plc (MOG) reported that the scheduled horizontal side track well (OM2dir) to drill an approximately 800 meters long horizontal hole inside the carbonate reservoir is progressing well at the Ombrina Mare 2 Appraisal Well (OM2).

OM2dir started at 1815 meters inside the lower Pliocene clastics has reached the Oligo-Miocene main target carbonate formation 300 meters east of the OM2 appraisal vertical hole and 1.3 kilometers east of the Ombrina Mare 1 (OM1) discovery well, in line with the geological prognosis and the oil appraisal expectations.

When the OM2dir hole touched the target reservoir significant oil shows were immediately recorded on cuttings and on the shale shakers, associated with good yellow fluorescence and drilling total gas of about 3%.

The OM2dir follows the successful completion of the vertical hole the target depth of 2310 meters. The vertical hole confirmed by cores and logs from inside the main target carbonate formation the material presence of oil and confirmed by logs the material presence of gas in the Pliocene gas sands.

MOG will now set up casing, continue to drill the horizontal hole for approximately 500 meters inside the oil bearing Oligo- Miocene carbonate reservoir, and conduct a full test by the OM2dir to verify the oil production rates obtainable from a horizontal well inside the fractured carbonate reservoir.

"Once the horizontal hole is completed and a full production test is carried out we will be in a position to commission an assessment of the field volumetrics and reserves based on the appraisal results," said MOG CEO Sergio Morandi.

The Ombrina Mare Concession is located offshore Italy. MOG serves as the operator with 100% in the well.