extract from dragon oil statement 23/10/12

Tunisia

The Bargou Joint Venture, comprising Dragon Oil (55%), Cooper Energy (30%) and Jacka Resources (15%), has secured a drilling rig from Grup Servicii Petroliere SA ("GSP") and well management services by AGR Petroleum (ME) Ltd - Dubai for drilling an exploration well in the Bargou Exploration Permit, offshore Tunisia. Drilling is scheduled to commence between December 2012 and March 2013 depending on when the rig is released from previous commitments. The drilling of the well will be managed by Cooper Energy.

Dragon Oil is to contribute 75% of the cost to drill the Hammamet West-3 well, according to an agreed well plan scope, up to a cost cap of US$26.6 million (on a 100% basis). The well plan consists of a pilot hole followed by a slanted or horizontal section to intersect the fractures within the Abiod formation thereby increasing the flow potential of the reservoir.

Here is a link to the full article.
http://www.digitallook.com/news/rns/20445260-11548/DGO-Interim_Management_Statement_html