SFAX OUTLOOK

The partners have embarked on a work program to investigate the Ras el Besh and the Jawhara structures on the Sfax permit. The primary target at Ras el Besh is the El Garia and the secondary target is the Reineche. The primary target at the Jawhara is the Douleb/Bireno.

The planned wells are designed to penetrate the prospective formations at higher, potencially more productive levels than exploration wells drilled in the 1970s and 1990s. The partners spudded the first well, Ras El Besh 3 (REB 3), in June 2008. The partners are also continuing to investigate the Salloum prospect.