Press Release

11 December 2014

Oranje-Nassau Energie B.V. (ONE) announced today the successful appraisal of the M07-B gas-field with well M07-08. The extended reach well was drilled from the M07-A platform to an accumulation in the Jurassic. The well cleaned up and tested a maximum gas-rate of ~1 million m3/d, with ~250 stb/d associated condensate.
M07-08 is the third well in the field, which was discovered in 1996 with well M07-05ST. The main target of the M07-05ST well was the Bunter; the thin Jurassic section that was also encountered tested subeconomic rates. In 2010, well M07-07 successfully appraised the Jurassic down flank of M07-05ST. The well tested at a rate of 280.000 m3/d but could not be tied in due to downhole technical failures. Well M07-08 found the reservoir 8 m shallower than expected, and the gas-down-to 10 m deeper than expected. Some 108 m of core was taken, to further evaluate the reservoir. The success of M07-08 bides well for further development of the M07-B field from a new satellite location in the future. ONE is operator of the M07 block (42.75%) in partnership with EBN (40%), TAQA (5%) and Energy06 (2.25%).