Oryx Petroleum "Largely Unaffected" by Unrest

Demir Dagh-6 Test Results

The Romfor 22-rig spudded the DD-6 appraisal well from the Demir Dagh-4 (“DD-4”) drill pad in early May 2014 1.5 kilometres from DD-2. The DD-6 well was drilled to a total measured depth of approximately 2,029 metres in the Lower Cretaceous reservoirs and was targeting the crest of the Cretaceous reservoir just to the south of the fault running from west to east across the structure between the Demir Dagh-1 well and DD-2.

Fluid losses were observed during drilling and a full suite of logging data was collected. Notably logging analysis and observations during drilling indicated the presence of hydrocarbons, a permeable fracture network and matrix porosity similar to that observed at the DD-2, Demir Dagh-3, and DD-4 wells. The testing program was comprised of two DSTs targeting formations in the Cretaceous.

Oryx Petroleum successfully flowed oil in both DSTs conducted.

DST#1 was conducted over a 20 metre interval in the Kometan formation in the upper Cretaceous reservoir. The well was flowed over a total of 86 hours using a series of different choke sizes. The test flowed naturally at a sustained rate of 500 bbl/d of oil for a 10 hour period on a 32/64” choke. The oil gravity was measured on site at 19 - 21° API. Gas to Oil Ratio (“GOR”) measurements ranged from 250 to 300 scf/stb and hydrogen sulphide was measured at 0.08%. No water production or pressure declines were observed during the test. The fracture network encountered was not adequate to facilitate high well productivity and flow rates.

DST#2 was conducted over a 25 metre interval in the Shiranish formation in the upper Cretaceous reservoir. The well was flowed over a total of 46 hours using a series of different choke sizes. During the test oil flowed at rates exceeding 3,000 bbl/d indicating a good fracture network and high well productivity. However, natural gas was encountered at the top of the perforation interval indicating presence of a small natural gas cap.

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