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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