UK Central North Sea Licence P2013 – Finlaggan Appraisal

Zennor Petroleum Limited is pleased to announce that well 21/5c-7 and side-track 21/5c-7Z, drilled by the Transocean Sedco 704 drilling rig, have successfully appraised the Lower Cretaceous Finlaggan gas condensate accumulation.

Well 21/5c-7Z was drill stem tested at a stable rate of 9,785 boepd (40mmscfd of gas and 3,120 bbs/d of condensate). The flow rate was constrained by the capacity of the surface testing equipment.

The data from the wells will now be integrated into a detailed reservoir model to define the estimated reserves, which we expect to demonstrate the commercial potential of Finlaggan consistent with the range of pre-drill estimates.

In parallel with the drilling, Zennor’s engineering teams have been making good progress in discussions with the Operators of potential offtake routes for the Finlaggan hydrocarbons. Engineering studies are underway with several companies, with the intention of being able to deliver first production from Finlaggan no later than 2019.

Zennor Petroleum Limited’s wholly owned subsidiary Zennor Pathway Limited (Operator) holds a 100% interest in Licence P2013.

For all media enquiries, please contact:

Ben Brewerton/Sara Powell, FTI Consulting Tel: +44 (0) 203 727 1000