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Maurel et Prom reports Promising results of the MB-4 development well in Tanzania

Manzi
Bay operator Maurel et Prom has announced that the MB-4 development
well, drilled 800 m from the MB-2 and MB-3 wells at the Mnazi Bay gas
field, has crossed Miocene gas reservoirs with net pay of 24 metres
(Upper Mnazi Bay) and 43 metres (Lower Mnazi Bay) respectively, both
ranked among the best of the five wells drilled at this field so far.

According to Maurel et Prom pressure measurements have confirmed the
lateral and the vertical connectivity of each reservoir with the two
reservoirs having been selectively tested at different two-hour
stabilised flows, with the following results:

MB-4

The well will be connected to the production faculties currently
being installed at the field, for start-up in the third quarter of 2015.
MB-4 well deepening to the Oligocene was interrupted after encountering
high-pressure intervals of unknown origin.

Maurel et Prom adds that the well’s results confirm the Group’s
ability to produce additional output over and above the initial 80
MMscfd, to deliver 110 to 130 MMscfd and based on these results and on
the initial production scheduled for third quarter 2015, the next
assessment of reserves at the Mnazi Bay field should confirm the
previously accepted gas volumes.

The MB-4 development well spud in March and is ongoing with drilling operations expected to be completed in 90 days.

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