Ann: Vali-1 ST1 Drilling Progress Report, page-36

Hi boysy1,
Great announcement;
- especially the better-than expect outcome.
- 9% porosity cut-off for defining net pay, so pay zones have porosity >9% which bodes well for rock quality and potential flow rates.
- multiple other prospective zones.
- MDT recovered gas demonstrating that the sands flow; another positive signal for reservoir quality.
- I especially like comment (below) as there are numerous structural leads, potentially oil-bearing, in the shallower sections. L\Check out the sizeof the NARVI lead north of Kinta-1.
"The Vali-1 location is mapped at the edge of, or just outside of structural closure for these reservoirs, indicating significant gas and oil potential as mapped up-dip of the Vali-1 location at these levels. There are also numerous Jurassic structures mapped within the permit which will now be high-graded due to the strong indications of oil migration into the Jurassic level evident in this well".



Kind regards OldGeo.