Ann: Musuma-1 selected as high-impact exploration well, page-474

Hi All,

As nothing further resulted from the Quarterly Report, for those interested, I'm posting a summary of my review of the Musuma Prospect based on the data that has been released so far.

I agree with IVZ's comments that it is a compelling prospect. What interests me most is the correlation, albeit just on the one line presented - CB23-15, between amplitude anomalies, flat-spots, the seismic interval velocity low and the structure's mapped extent on the line - with caveats as noted. We need to see these in map form to confirm this correlation.

IVZ make the comment that the strong Direct Hydrocarbon Indicators are very compelling. I would agree with this, but being amplitude based the percentage of gas fill causing the amplitude anomaly can result from very low amounts of gas charge, "fizzy" water, i.e. <10% gas charge - sub economic. This is why the correlation with other information is very important. They imply in the release that they have other lines of evidence that is compelling as well - would be nice for these to be released!!

As for Mukuyu, I was expecting, as no doubt were many others, that the PPSA & funding would have gone through in late 2023 & early 2024 to allow Mukuyu-2 deepening & testing to go ahead in early 2024. IMO, from the spectrum of information released I haven't changed my view on the accumulations massive potential, and considering Zimbabwe's energy crisis I'm astounded that further work has moved so slowly!!

GLTAH
Cheers
VOGC