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OMV Announces Further Exploration Success in Yemen

Source: www.gulfoilandgas.com 11/10/2005, Location: Middle East

OMV announced another oil discovery in Block S2 (Al Uqlah) in the Shabwa province of Yemen. The OMV operated Al-Nilam-ST1 well, drilled to a total depth of 3,090 meters encountered a 430 meter oil column in fractured basement formation which tested at a stable flow rate of 1,800 bbl/day. The secondary target, tested at a flow rate of 200 bbl/day. This follows the successful test of the Habban-1 well, in the same structure, at a stable flow rate of 500 bbl/day in July 2005. These recent positive results lay the groundwork for assessing the development possibilities and commercial potential of the block.

Block S2 covers an area of 2,070 km² and is located in central western Yemen in close proximity to Block 2 (Al Mabar) for which OMV has signed a Production Sharing Agreement on July 13, 2005.

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