Ann: 1.5 Billion Barrel Prospective Resource in B, page-4

re: Ann: 1.5 Billion Barrel Prospective Resou... So the drilling to the north in Egypt has already begun as at announcement 6 November 2012 from Petroceltic:




"Operated Drilling

Egypt

Drilling operations on the Mesaha-1 frontier exploration well in southern Egypt have commenced; this is the first exploration well to be drilled in the 43,000 square kilometre Mesaha concession, which contains one of the larger untested sedimentary basins in East Africa. The well is being drilled into a major tilted fault block and will provide information on the stratigraphy of the basin and the possible presence of effective reservoir and hydrocarbon source rocks. The planned well depth is 9900 feet and it is expected to take approximately two months to drill at a cost of $8.0 million (gross). Petroceltic operates and holds a 40%working interest in the concession."