MONTE GROSSO

Serra San Bernardo Permit (MOG 22.8%)

Serra San Bernardo Exploration permit is located next/on-trend with the main oil production area in Western Europe.

  • Val D’Agri (Monte Alpi – C. Falcone) Gas & Oil Field. The biggest onshore Western Europe oil field that is producing 100,000 bbls/d (JV: ENI, Operator: Shell)
  • Tempa Rossa Gas & Oil Field that is presently under development (JV: Total, Operator: Shell, Exxon)

Serra San Bernardo is a Joint Venture with ENI and Total operated by MOG

MOG is planning to drill the Monte Grosso prospect starting late 2008.

Monte Grosso Prospect

  • Drilling services agreement with ENI
  • Estimated total depth 6,800 metres
  • Planned spud Q4, 2008
  • MOG Most likely case Prospective resources (100%) estimates are 280 MMblls (60MMbbls net to MOG)
  • Overall Geological Chance of Success 21.4%

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