Papa Still Drilling Offshore Tanzania

Date: Thursday, July 5, 2012

Ophir Energy reported that its exploration program continues on schedule with the ultra deepwater drillship Deepsea Metro 1 completing operations on the Mzia-1 discovery and moving on to spud another well for Ophir and its partner BG (operator).

The Deepsea Metro 1 spud the Papa-1 well on May 29 and according to Ophir, the well should be complete by late-July. The well is targeting the Upper Cretaceous intra-slope channel play within the Rufiji delta.

The Papa-1 prospect has an unrisked mean estimated recoverable resource of 3.1 Tcf (517 Mmboe). Results are expected to be released once drilling is complete.

Once Papa-1 is completed the Deepsea Metro 1 will be assigned to Apache for a single well in Kenya on acreage adjacent to Ophir's Blocks L9 (60%) and L15 (100%), before returning to continue operations with the Ophir-BG JV in Tanzania.

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