OVERVIEW

Ombrina Mare offshore Concession Application (100%, Op.)

  • Ombrina Mare 1 oil & gas discovery successfully appraised by OBM2 and OBM2-dir wells in June 2008
  • Flow test from OBM2–Dir horizontal drain proved approximately 1,000 bpd
  • Certified P1 & P2 Oil Reserves 40MMbbls
  • Certified P1 & P2 Gas Reserves 6.5Bcf
  • Contingent oil Resources 11 to 18MMbbls
  • Satellite oil prospects and gas levels in the Pliocene sand Complex under evaluation to be developed in conjunction with the main field

Serra San Bernardo onshore Permit (22.8%, Op.)

  • MOG operate in Joint Venture with ENI and Total
  • Exploration prospect to be drilled: Monte Grosso 2
  • • most likely Prospective Resources (100%): 280MMbbls. Net to MOG 64MMbbls (Operator estimate)

Guendalina offshore gas field (20%, non Op.), offshore Adriatic

The Field

  • J.venture with ENI (80%, Operator)
  • The field is located 47 km offshore, in 40 m of average water depth
  • Discovered by Guendalina-1 drilled in 1998 by ENI, and further appraised by the Guendalina-1DirA sidetrack, about 350m up-dip
  • The reservoir depth is approximately 3,000 m
  • The field is under development (Concession awarded in 2010)
  • The FDP is based on the tie back to the Tea Field and the connection to the Amelia production platform (both ENI owned)

Reserves

The Operator reported that the Field (100% basis) holds:

  • 1P proven gas reserves of 526MMscm (19Bcf)
  • 2P proved and probable gas reserves of 631 MMscm (22Bcf)

Development & Production

  • Two development wells to be drilled: drilling spud forecast in spring 2011
  • Link to the existing ENI offshore gas production facilities
  • Total gas production in the first production full year – 142MMscm (5 Bcf)

North Adriatic discoveries (15%, non Op.), offshore

  • Production Concession – AC19PI
  • Exploration permit – AR81FR
  • MOG has a 15% interest (ENI Operator) a number of other gas discoveries
    • Aida, Attila, Dorotea and Isabella gas fields
    • Dorella Prospect
  • These four additional gas discoveries represent not to MOG 19 to 48 Bcf of contingent gas resources

Return to Operations