Maurel et Prom

Published : December 31st, 2014

Tembo-1 Exploration Well Drilling Complete in Mozambique

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Keywords :   Gabon | Mozambique | Myanmar | Natural Gas | Oil |

Tembo-1 Exploration Well Drilling Complete in Mozambique

MAU_TEM_301214_ENG


Paris, 30 December 2014

No. 26-14

Tembo-1 Exploration Well Drilling Complete in Mozambique

Spud of two exploration wells in Gabon and Myanmar


In Mozambique, Anadarko, operator of the Rovuma onshore license with a 42% working interest informed the Authorities via a Notice of Discovery that a natural gas discovery had been made in the TEMBO-1 well. Maurel & Prom owns a 32.60% working interest in this license.
The notice gives the following information:
"The well was drilled to a total depth of 4,553 meters and reached TD in Jurassic aged sediments. Petrophysical analysis of the Cretaceous section indicates 11 meters of natural gas net pay. Natural gas and some condensate was recovered by modular formation dynamics testing ("MDT") confirming the petrophysical analysis. The Onshore Rovuma Partners will evaluate all the data recovered from this well to determine the potential commerciality of this discovery and do not plan any further evaluation of the Tembo well at this time. The well will be P&A."
The partners will analyse with the operator Anadarko all the data from the well to be able to qualify this discovery.
The drilling rig is now being mobilized to the Kifaru-1 exploration well location.
In Gabon, the drilling of the second exploration well EZMAB-1D started in December the 23rd. The well has reached a depth of 435 meters and should reach the final depth by the end of January 2015.
In Myanmar, the drilling of the SP-1X exploration well, located on the Block M2 (Saint-Aubin Energie
40%) and operated by Petrovietnam, has started on December 2014, the 27th. The drilling should last at
least two months.

For more information:http://www.maureletprom.fr/www.maureletprom.fr

MAUREL & PROM

Tel: +33 (0) 1 53 83 16 00

Press contacts, shareholder and investor relations

Tel: +33 (0) 1 53 83 16 45

[email protected]mailto:[email protected]

This document may contain forward-looking statements regarding the financial position, results, business and industrial strategy of Maurel & Prom. By nature, forward-looking statements contain risks and uncertainties to the extent that they are based on events or circumstances that may or may not happen in the future. These projections are based on assumptions we believe to be reasonable, but which may prove to be incorrect and which depend on a number of risk factors, such as fluctuations in crude oil prices, changes in exchange rates, uncertainties related to the valuation of our oil reserves, actual rates of oil production and the related costs, operational problems, political stability, legislative or regulatory reforms, or even wars, terrorism and sabotage.

Maurel & Prom is listed for trading on Euronext Paris - Compartment A

CAC® mid 60 - SBF120® - CAC® Mid & Small - CAC® All-Tradable - CAC® All-Share - CAC PME - Eligible for the French "PEA - PME" investment scheme

ISIN FR0000051070 / Bloomberg MAU.FP / Reuters MAUP.PA

TEM_30DEC_n° 26_14 Page 1 of 1

Read the rest of the article at www.noodls.com
Data and Statistics for these countries : Gabon | Mozambique | Myanmar | All
Gold and Silver Prices for these countries : Gabon | Mozambique | Myanmar | All

Maurel et Prom

CODE : MAU.PA
ISIN : FR0000051070
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Maurel et Prom is a and oil producing company based in France.

Maurel et Prom is listed in France. Its market capitalisation is €UR 918.1 millions as of today (US$ 1.0 billions, € 918.1 millions).

Its stock quote reached its lowest recent point on December 29, 1994 at €UR 0.50, and its highest recent level on July 02, 2004 at €UR 99.50.

Maurel et Prom has 195 340 313 shares outstanding.

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