New production well on Tasour

Tasour # 14 is a development well located on the western flank of the Tasour Field in Block 32. The well was put on stream with an initial production of ca. 2.820 barrels of oil per day and 1.330 barrels of water per day.
 
Tasour # 14 was drilled following the successful completion of Tasour # 13 which was put on stream late September with an initial production of 2.240 barrels of oil per day and 5.740 barrels water per day. Tasour # 13 is currently producing ca. 1.500 barrels of oil per day and 6.900 barrels of water per day. Similarly, it is expected that Tasour # 14 will stabilize at a level somewhat lower than the initial oil production rate.
 
Tasour # 13 and # 14 are both development well locations which was planned within the western field extension defined by the new 3-D seismic acquired earlier this year. The drilling rig is now released but it is anticipated that the rig will return to Block 32 early in 2005 to commence drilling of the potential eastern extension of the Tasour field as well as additional development/appraisal wells planned in 2005.