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Oryx Petroleum Corporation Limited Announces Spudding of AAS-1 Exploration Well in the Kurdistan Region of Iraq

18 June 2013

Oryx Petroleum Corporation Limited (“Oryx Petroleum” or the “Corporation”) (TSX: OXC)
today announces that on June 10, 2013 the Sakson Hilong 10 rig (2000 HP) spudded the
AAS-1 well in the Hawler license area in the Kurdistan Region of Iraq. The AAS-1 well is
targeting the Ain Al Safra prospect which is estimated to contain 225 MMbbl in unrisked
gross (100%) prospective oil resources (risked: 44 MMbbl) based on evaluations as of
March 31, 2013 made by Netherland, Sewell & Associates, Inc., an independent oil and
gas consulting firm providing reserve and resource reports to the worldwide petroleum
industry. The AAS-1 well is targeting the deeper light oil potential in the lower Jurassic
and Triassic and heavy oil potential in the Cretaceous and is expected to reach total
depth of approximately 4,220 metres in the fourth quarter of 2013.

 

The AAS-1 well is the third exploration well spud in the Hawler license area following the
successful DD-2 exploration well targeting the Demir Dagh prospect which was spud in
July 2012 and completed testing in March 2013 and the ZEG-1 exploration well targeting
the Zey Gawra prospect which was spud in late April 2013 and is expected to reach total
depth late in the third quarter of 2013. Oryx Petroleum has a 65% participating and
working interest in and is the operator of the Hawler license area.

 

Download the press release:

Oryx_Petroleum_Press_Release_AAS1_Spud.pdf