Tuskar Successful Offshore West Africa

Tuskar has encountered an oil productive sand in its OBE 5 development well in the OBE field, offshore Nigeria. The electric log analysis reveals approximately 60 feet of oil pay in a high quality sand. The presence of this reservoir confirms Tuskar's estimate of the potential of the OBE field and well completion operations are in progress. The well will be flow tested following completion, and is expected to be connected to the existing production facilities in December.

The OBE field came on stream in December 1999 with the initiation of flow from the OBE 4 well currently continues to flow at approximately 3,000 barrels oil per day. OBE 4 well continues to flow and the combined rate from OBE 4 and 5 wells is estimated to be 7,000 barrels oil per day.