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SUA Newsletters

E&P International Coverage

A Swiss Upstream Advisors publication

Main News

Tullow Oil announces new discoveries in

Kenya

The operations update & 2014 outlook of Ithaca Energy is now available

Wintershall's second Skarfjell appraisal well exceeds expectations

ERHC Energy awards contract for 2D seismic survey in Kenya Block 11A

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Swiss Upstream Advisors “We are at the intersection of E&P and finance”

17 rue des Pierres du Niton

Geneve, Switzerland

Tel : +33 6 74 86 62 19

www.swissupstream.com

News of 15.01.2014

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Tullow oil : New discoveries in Kenya

Source : Tullow oil

COBALT : HALLIBURTON DELIVERS PIONEERING LOGGING TECHNOLOGY FOR COBALT’S RECENT

DEEPWATER PRE-SALT EXPLORATION WELLS IN WEST AFRICA

Halliburton provides wireline services technology for two deepwater exploratory wells in Angola’s

demanding pre-salt environment for Cobalt International Energy. This technology enhances the understanding of the rock and fluid properties of the formation and enables the company to make informed decisions and minimize drill-stem test risks.

Source : Halliburton

AFRICA

Tullow oil announced discoveries in wells

Amosing-1 and Ewoi-1 in Block 10BB.

Tullow oil operates both the Amosing-1

and Ewoi-1 wells with a 50% interest and

Africa Oil has a 50% non-operated interest.

These discoveries continue Tullow’s 100%

success record in the basin with seven out

of seven discoveries to date.

Tullow has updated its estimate of

discovered resources in this basin to over

600 mmbo. Tullow believes that the

overall potential for the basin, which will

be fully assessed over the next two years

through a significant programme of

exploration and appraisal wells, is in excess of one billion barrels of oil.

SUA 01.15.2014

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LYBIA : Total restarts offshore exploration

After a three-year break, Libyan offshore exploration has again restarted. French oil giant Total has started exploration at its Contract Areas 15, 16 & 32 with well A1-16/3

Source : LIBYA HERALD

ERHC : EHRC awards contract for 2D seismic survey in Kenya Block 11A

SOURCE : EHRC ENERGY

ERHC Energy has announced that

its wholly-owned subsidiary, ERHC

Energy Kenya, has awarded BGP

Kenya a contract to conduct a 2D

seismic survey of Block 11A in

northwestern Kenya. ERHC intends

the seismic survey to commence in

early spring.

Block 11A is located to the

northwest of the Lokichar Basin

where the significant Ekales-

1, Ngamia-1 and Twiga South-1 oil

discoveries were drilled

SOUTH

AMERICA

SUA 01.15.2014

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Wintershalls: Wintershall’s second Skarfjell appraisal well exceeds

expectations

Source : Wintershall

Ithaca Energy: THE OPERATIONS UPDATE & 2014 OUTLOOK OF ITHACA ENERGY IS NOW

AVAILABLE

In 2013, Total pro-forma production was approx. 13,000 boepd, 95% oil; this reflects inclusion of

full year production from the assets acquired as part of the Valiant acquisition, which completed on

19 April 2013. Average production in the fourth quarter of 2013 was approx. 11,300 boepd, 96%

oil.

EUROPE

RUSSIA/CIS

Wintershall has announced the successful

drilling of the Skarfjell South appraisal

well on the Norwegian Continental Shelf.

The company proved oil and gas in the

upper and lower Intra-Heather sandstones

of the Skarfjell structure with reservoir

properties that exceed expectations.

A first appraisal in the northern part of

Skarfjell proved an extension of the field to

the north and suggested resources of

between 60 million – 160 million boe (10 –

25 million Sm3). This second appraisal

confirmed the oil volumes and additionally

showed the presence of a gas cap. The

current, preliminary resource estimate is

between 120 – 230 million boe, comprising

10 – 23 million Sm3 of oil and condensate

and 8 – 15 billion Sm3 of gas

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2014 production is anticipated to be in the range of 11,000 to 13,000 boepd, approximately 95% oil. No production from the Greater Stella Area (“GSA”) hub is incorporated in the guidance range.

First hydrocarbons are anticipated from the GSA hub at the end of 2014, resulting in net initial

annualised production for the Company of approximately 16,000 boepd.

Production during 1Q14 is estimated to be below the full year range driven primarily by an

unplanned shutdown of the Cook field that is currently on-going to repair the gas export

compressor on the Anasuria FPSO host facility

Source : Ithaca Energy

SUA 01.15.2014

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CNOOC : CNOOC'S LIUHUA 19-5 GAS FIELD IN CHINA STARTS PRODUCTION

CNOOC Limited announced Tuesday that the Liuhua 19-5 gas field has recently commenced production.

Liuhua 19-5 is located in the Pearl River Mouth Basin of the South China Sea with an average water depth of

about 185 meters. This project was designed to share the existing producing facility of Panyu 30-1 gas field,

and two new producing wells were drilled. Liuhua 19-5 is expected to hit its peak production of 29 million

cubic feet per day in year 2014.

Liuhua 19-5 is an independent oil field in which the Company holds 100% interest and acts as the Operator.

Asia

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NORTH

AMERICA

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OCEANIA

MIDDLE

EAST

Australia

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