Cygam Provides Additional Update on TT2 Exploration Well

Cygam Energy provided an additional update on the TT2 exploration well operated by Storm Ventures International (SVI) of Calgary, on the Remada Sud Permit in Southern Tunisia. The Corporation announced that the Schlumberger stimulation equipment is onsite and operations have commenced to artificially fracture and production test several zones of interest in the well. The TT2 well encountered potentially significant light oil and gas shows in the primary Ordovician Bir Ben Tartar formation while coring. Secondary zones of interest which encountered hydrocarbon potential during drilling will also be tested. The Sud Remada permit is located in the Ghadames Basin and is approximately 1.2 million acres in size. Cygam’s working interest in the well and in the entire permit is 14%. SVI is the operator and has a 71% working interest; Madalena Ventures Inc. is also a partner with a 15% interest in the well.

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