Ching 4-4... 3 cores cut, page-14

3 cores cut from 2599m – 2706m ie 107m. What if anything can we infer?

Neutral spin: Cores would be cut regardless of whether any oil has been found in Chinguetti-4-4, simply to provide data about reservoir sands that were not taken in Chinguetti-1. The idea would be to correlate the Chinguetti-4-4 logs with actual core samples, and use this correlation to infer the characteristics of the reservoirs in the oil bearing section of Chinguetti-1, and perhaps extrapolate across the whole structure.

Positive spin: Last year Chinguetti-1 hit an 86m gross oil column in the well with TD = 2620m. Say the bottom oil in Ching 1 was just above TD at 2610m and top oil at 2610 – 86 = 2524m; if all cores in Ching-4-4 were in oil-bearing reservoir section then the overall oil column as determined by Ching-1 and Ching-4-4 could be 2706 - 2524 = 182m. This number would be correspondingly larger if the Ching-1 oil column was actually higher up in the well than the 2524 – 2610 range assumed above.

Finally, remember this is an appraisal well looking to find the oil-water contact and was therefore drilled out towards the edge of the field. Any oil column it does hit will quite likely be thinner than in the other two wells. The main thing is that it could probably be (more or less) ADDED onto the Chinguetti-1 figure to give a TOTAL column size.