Ann: Senegal Drilling Update - Successful SNE-4 appraisal well-FAR.AX, page-2

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Senegal Drilling Update: Successful SNE-4 appraisal well
The SNE-4 appraisal well offshore Senegal has been safely drilled, cored and logged ahead of schedule and under budget. Well results have successfully demonstrated the extension of the SNE oil field upper reservoir units in the eastern portion of the SNE field.
The Operator, Cairn Energy PLC, has provided notice to release the Ocean Rig Athena drill ship after completion of SNE-4 operations. Evaluation of the extensive data set acquired from the highly successful SNE-2, SNE-3, BEL-1 and SNE-4 appraisal wells is continuing.
The JV is evaluating development options and will determine the most effective way to further appraise this world class oil accumulation. Drilling is expected to resume in H2 2016.
The SNE-4 appraisal well results confirmed the following:
 The extension of reservoirs in the eastern portion of the SNE field located 5km east and down dip from the SNE-3 well location (refer Figures 1, 2, 3)
 Presence and correlation of principal reservoir units between each of the wells across the field
 Oil bearing upper reservoir sands of similar quality to those encountered as gas bearing elsewhere in the field
 Shallower gas sands first discovered in BEL-1 and SNE-3 were also present and gas bearing in SNE-4. The potential for down dip oil in these extensive reservoirs is being assessed
 Gross oil column of 102m
 Multiple samples of gas, oil and water recovered to surface and SNE-4 has confirmed the same 32 degree API oil quality as seen in other wells across the SNE oil field
 108m of continuous core was taken across the oil bearing reservoir interval with 100% recovery
 Long term monitoring gauges will be installed
The positive result from SNE-4 has further confirmed the scale and extent of the SNE field resource.