TUNISIA - Robbana (WI 80%)

The Robbana field is located in southern Tunisia on the island of D'Jerba, and began production in September 1993.

Cumulative gross production is over 400,000 barrels, with estimated remaining net reserves of approximately 200,000 barrels.* The field produces from a single well, Robbana-1, with current net production of approximately 20 bopd.

Following the identification of a 3 million barrel Contingent Resource by Ryder Scott **, Candax is examining options for enhancing recovery at Robbana, including a potential water flood. A date for the drilling of an appraisal / development well, estimated to cost $5 million (net), has not yet been determined.

*   Ryder Scott Report 31/12/08
** Ryder Scott Report 31/12/07