Tunisia – the Bargou Exploration Permit

Tunisia – the Bargou Exploration Permit

The Bargou Exploration Permit is located in the Gulf of Hammamet in the Mediterranean Sea. The Permit covers an area of 4,616km² with predominantly offshore exploration prospects and leads in water depths of approximately 50 to 100 metres.

The Bargou Joint Venture comprises Dragon Oil (55%), Cooper Energy (30%) and Jacka Resources (15%).

Map

Dragon Oil signed a farm-in agreement with a wholly owned subsidiary of Cooper Energy Limited (ASX: COE, www.cooperenergy.com.au) in October 2011. Dragon Oil has a 55% participating interest.

The drilling of the Hammamet West-3 well (Sidetrack-1) in the Hammamet West Oil Field in the Bargou Exploration Permit commenced in early April 2013. The well plan consisted of a pilot hole followed by a horizontal section to intersect the open fractures within the Abiod formation thereby testing the flow potential of the reservoir.

Initial production testing of Sidetrack-1 confirmed the presence of open hydrocarbon bearing fractures, but could not be completed due to continuous blockages and obstructions caused by lost circulation material (LCM). The Hammamet West-3 well has been temporarily suspended.

The joint venture partners have rescheduled appraisal drilling at Hammamet West until 2016.

The Field is located in the northern part of the permit and covers 205km2 in water depths of approximately 50 metres. 3D seismic data of this field was acquired in 2009-10.

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