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FEB – JUNE 2018 – OPERATIONS UPDATE

DRILLING No current drilling operation. Plans are still ongoing to carry-out rig-less interventions on some of the well strings. PRODUCTION ACTIVITIES Plans are ongoing to ramp up production as the new 80,000 barrels Tank Farm is nearing completion. The Tank Farm will help SunTrust Oil and its Partners to sustain injection rate during/after production/injection outages. Various facility upgrade and debottlenecking activities are currently ongoing. CRUDE EXPORT Injection through the Nigerian Agip Oil Company Limited (“NAOC”) and the Umugini Asset Company Limited (“UACL”) export pipeline suffered several downtimes due to Vandals’ attack on the export pipelines resulting in shut-ins of...

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Operations Update

DRILLING The UMU 16 well has been successfully drilled and completed. The UMU 16 well is the first well to be drilled on the western location of the field. The well has since been put in production with a combined production of about 6000 barrels of oil per day (“BOPD”) from the long and short strings on Choke 28/64”. Future drilling activities in UMU west will make use of the other drilling slots in the UMU west location to appraise some of the identified sands during the UMU 16 drilling.   The second water disposal well has been successfully...

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