Potential for Oil Columns in Mukuyu-1, page-6

I will just add a couple of points.

- During the shareholder briefing SM was adamant at one point that there was not water in the reservoir sections but in isolated stringers of sands.

- If that is the case, then any liquid identified would be liquid hydrocarbons. The resistivity and neutron-density crossover would indicate that.

- Technically speaking condensates in their gaseous form at the initial static BHP and BHST, and as such any liquid hydrocarbon identified by logging tools would be seeing light oil. Condensates start forming when the well starts flowing, and the pressure and temperature drops.