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 drilled and completed. It was drilled from the UMU 3 well location, the same location where the first water disposal well was drilled. With the second water disposal well in place, SunTrust Oil and its partners are ready to effectively manage water production from the Umusadege field.

 

PRODUCTION ACTIVITIES

The Central processing facilities debottlenecking is currently ongoing. The plan is to see ways to continue to increase the processing capacity of the facility. With the new UMU 16 in place and the 2 water disposal wells ready, SunTrust Oil and its partners, hope to ramp up production as soon as possible to cover the new Technical allowable rate of 31,610 BOPD for the first half 2016.

 

CRUDE EXPORT

The Group Gathering Facility (“GGF”) modification has been completed. Injection through the Nigerian Agip Oil Company Limited (“NAOC”) was sustained during the last month, while we wait for instructions from Shell to resume export from the Umugini Asset Company Limited (“UACL”) export pipeline.