re: Ann: Significant hydrocarbon resource pot... Oryx Petroleum...

re: Ann: Significant hydrocarbon resource pot...
Oryx Petroleum hold the AGC Shallow license that it is to the North of Svenska/FAR's 3 Guinea Bissau blocks and adjacent to Ophir/FAR's AGC Profound block (Page 11 of todays investor presentation).

Per Oryx's website below, they are looking to drill 1H 2014. The prospect is considered similar to FAR's Sinapa discovery.

It should be noted that this license contained the Dome Flore oil discovery in the 70's. Another chance for SP appreciation due to nearology...


http://www.oryxpetroleum.com/en/operations/senegal-guinea-bissau.php

AGC - Senegal / Guinea Bissau
•An 85% participating interest (80% working interest if the AGC exercises the AGC Back-In Right) in AGC Shallow, a shallow water offshore exploration area operated by Oryx Petroleum.

•AGC Shallow contains the Dome Flore and Dome Géa heavy oil discoveries in shallow horizons and light oil prospects and leads identified by Oryx Petroleum within deeper Maastrichtian to Albian targets. The Sinapa discovery offshore neighboring Guinea Bissau is similar to the structures Oryx Petroleum is pursuing in the AGC.

•The light oil prospects and leads contain a total of 243 MMbbl of best estimate unrisked gross (working interest) prospective oil resources (risked: 31 MMbbl).

•Oryx Petroleum has completed the acquisition of 800 km2 of high quality 3D seismic data which will be used to prioritise the light oil prospects for an exploration well which Oryx Petroleum is expecting will be drilled in the first half of 2014.