Oryx Petroleum "Largely Unaffected" by Unrest

The top of the perforation was the highest perforation point in all Demir Dagh Cretaceous reservoir tests to date. In order to achieve a sustained oil flow with no free gas, only smaller choke sizes were used during the main test period, thus constraining the flow rates that could be achieved. As such, during the main test period using a 16/64” choke a sustained flow rate of approximately 700 bbl/d of oil over a 6 hour period was achieved with only associated gas. The oil gravity was measured on site at 23° API. The GOR measurements ranged from 65 to 3,500 scf/stb and hydrogen sulphide was measured at 0%. No water production or pressure declines were observed during the test.

DD-6 is being completed as an observation well from the Cretaceous.

All field fluid measurements at DD-6 will require laboratory analysis to confirm results and should be considered preliminary until such analysis has been done. The aforementioned test results are not necessarily indicative of long-term performance or of ultimate recovery.

Remaining 2014 Demir Dagh Appraisal Program

The Romfor 22-rig is expected to spud DD-7 approximately 1.5 kilometres from DD-2. DD-7 is expected to reach a total measured depth of 2,121 metres in the Lower Cretaceous in Q3 2014. The well is targeting the Cretaceous reservoir just to the north-west of the fault running from west to east across the structure between the Demir Dagh-1 well and DD-2.

Three additional development/appraisal wells will be drilled in 2014 to the Lower Cretaceous in order to increase production capacity and to further delineate the Cretaceous reservoir. DD-7 and the remaining three development wells planned for 2014 will be drilled in a similar deviated manner as DD-6 in order to optimally access the fracture networks.

Preparation work for the planned acquisition of 3D seismic data covering 440 square kilometres over the Demir Dagh, Banan and Zey Gawra discoveries commenced in mid-June. The data acquired should help the Corporation better understand the three discoveries and determine optimal locations of future appraisal/development drilling.

(Source: Oryx Petroleum)

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