Maurel & Prom Makes Gabonese Discovery, Continues Drilling in Tanzania

Drilled on the Omoueyi Exploration Permit (100%, operator) in Gabon, south of the ONAL Production Permit (85%, operator) and approximately 9 km from the production center, the OMOC-1 exploration well was stopped at a depth of 1,020 m in the base after reaching its objectives in the Kissenda sandstone (producers at OMKO) and the Base Sandstone (producers at ONAL) in terms of oil.

The impregnated heights are respectively 40 m in the Kissenda sandstone and 14 m in the Base Sandstone. Three zones are currently being tested.

The first test, conducted over an interval of 11 m in the Base Sandstone, produced when stabilized and flowing, 1,000 bopd of anhydrous oil on a 1/2" bean.

The second test is currently being conducted over a 6 m interval in the lower portion of the Kissenda formation.

The third test will be conducted in the upper zone of the Kissenda formation over an interval of 24 meters.

The Group will announce the results of these tests in one week. This discovery confirms the potential of the Omoueyi Permit and reinforces Maurel et Prom's intention to continue intensive exploration.

Continued drilling to the objective on Mafia Deep-1 in Tanzania

The Mafia Deep-1ST well is currently at a depth of 4,914 m. Gas plugs have appeared during drilling since a depth of 3,950 m. The sandstone beds that may be the origin of the gas breakthroughs observed total approximately 20 m.

At this stage, these formations do not constitute a commercial discovery under local market conditions.

After reprocessing of the seismic, the main objective of the well is expected in about 150 m, representing about ten days under normal drilling conditions.