Maurel & Prom Updates on Drilling Program in Syria

Operated by Maurel & Prom, the Al Asi license is situated along the Mediterranean coast north of the Lebanon-Syria border and covers an area of 8,427 km squared. Following the 890 km of 2D seismic acquired by the Group in 2007 and 2008, two zones of interest were identified. The Draco prospect was identified in the East Zone.

The Draco-1 well reached a final depth of 3,919 m in the Lower Carboniferous. Two formation zones Kurrachine (Trias) which had shown hydrocarbon indications during drilling have been tested one after the other. However, the characteristics of the Kurrachine reservoirs have proved too poor for hydrocarbon production.

Based on the results of these wells, the Group will concentrate its efforts on the second zone of interest situated in the West of the permit.

Two wells are due to be drilled in the next 4 years after complementary surveys and the acquisition of a 300 km 2D seismic.