Kurdistan Region - Hawler
- A 65% participating and working interest in the Hawler license area operated by Oryx Petroleum.
- A large exploration area with four structures mapped on high quality 2D seismic data and estimated to contain a total of 164 MMbbl of gross (working interest) proved plus probable reserves, 200 MMbbl of best estimate gross (working interest) contingent oil resources and 321 MMbbl of best estimate unrisked gross (working interest) prospective oil resources (risked: 107 MMbbl) with light and heavy oil prospectivity within multiple target reservoirs.
- Recent successful exploration well on the license area resulted in a significant discovery. (Demir Dagh)
- Planned exploration & appraisal activities
- Oryx Petroleum expects that it will be acquiring additional seismic data and drilling three additional exploration wells and one appraisal well in 2013 as well as at least one appraisal well in the first half of 2014.
- Planned development activities
- Oryx Petroleum is planning early production facilities and developing full field development plan for Demir Dagh
- A 50% participating interest assuming Oryx Petroleum exercises the KPA Option (40% working interest assuming Oryx Petroleum exercises the KPA Option and the WPG exercises the WPG Back-In Right) through a jointly owned company with rights for oil exploration operated by Oryx Petroleum.
- Wasit is a large, underexplored province in east central Iraq in proximity to the super-giant East Baghdad field.
- The five principal leads identified by Oryx Petroleum to date in the Wasit province contain 404 MMbbl of best estimate unrisked gross (working interest) prospective oil resources (risked: 77 MMbbl) within large, low relief structures and folded anticlines. Oryx Petroleum believes these structures are similar to the Zagros Fold Belt, which is one of the primary sources of oil currently produced in neighboring Iran.
- Planned exploration activities
- A seismic data acquisition program is anticipated to be completed in 2013 and Oryx Petroleum expects the drilling of an exploration well in late 2013 and the first half of 2014.