HISTORY OF TAZERKA OIL FIELD - One of two drill areas at...

HISTORY OF TAZERKA OIL FIELD - One of two drill areas at Hammamet cooper mentioned to drill late.

http://www.smip.com.tn/en/Tazerka%20Offshore.html


Hammamet Offshore (cooper now have 35%)
Additionally, Storm Ventures International has 100% interest in Hammamet Offshore Exploration Block with over 1.1 MM acres in the Pelagian Basin offshore Tunisia.

The block contains the previously developed Tazerka oilfield and is offset by eight proven oil discoveries. The Tunisian authorities granted the block to SVI on June 2005 for a period of 5 years starting September 13, 2005, under favorable fiscal terms and a relatively low work commitment consisting of one exploration well and 200 km2 of 3D seismic.

We are evaluating the potential reactivation of the Tazerka field including a potential extension to the south. In 2007 we plan to shoot a 600 square km of 3D seismic to evaluate large untested structures previously recognized on the block and high-grade the most prospective test well location on the block during 2007.