TUNISIA

Tunisia

-OVERVIEW

Tunisian Exploration - Medjerda Permit

  • 4,956 km2 onshore Northern Tunisia exploration permit
  • Range Petroleum is operating with 65% equity; MOG holds a 25% WI, Carthago Oil holds a 10% WI
  • Seismic and geological works carried out since 1995 have defined several leads
  • In Q1/08 the Teboursouk 1 exploration well was drilled and it is presently suspended waiting for a decision on a possible side track
    • TD 2,454 m
    • the presence of a petroleum system has been verified; seal, source and reservoir encountered while drilling
    • both exploration targets encountered:

                        - M Charga sandstones

                        - Balhoul Cretaceo Carbonate Complex

    • cut fluorescence recorded on cuttings in both reservoirs
    • carbonate Complex produced formation water