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 from the Robbana-1 well was just over 400,000 barrels, with estimated remaining net reserves of 370,000 barrels.*

During 2007 the daily production rate at Robbana-1 fell to 25 bopd as a result of wax deposition in the tubing and around the wellbore. Candax undertook re-perforation of the well over the two producing sands and restored the daily production to some 75 bopd before production ceased in 2009 due to waxing. During the 2007 work-over operations reservoir pressure measurements were made. These measurements confirmed a larger oil pool than previously understood and indicated that there is likely to be significant potential for further development in the Robbana-1 area through the implementation of water injection.

Following the identification of a 3 million barrel Contingent Resource by Ryder Scott **, and confirmation by a reservoir study conducted by Petroleum Insights SÀRL of Geneva in association with MHA Petroleum Consultants LLC of Denver that calculated a range of 18 to 25 million barrels of oil in place with potential for 4.3 to 5.8 million barrels of recoverable oil, Candax resumed production from the existing Robbana-1 well where pressure had built up during the 20 month shut-in.

Candax believes there is substantial upside potential at Robbana and, concurrent to drilling a new producer well, Candax intends to implement a focused forward work program comprising 3D seismic and a pilot water injection well.

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

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