Ezzaouia (WI 31.4%)

The Ezzaouia field is located onshore southern Tunisia, approximately 12 kilometres north of the town of Zarzis.

Production commenced in 1990 and the field is operated by Maretap, a joint venture company between Candax and ETAP. Cumulative oil production from the field is approximately 28 million barrels. Estimated net remaining Proven + Probable reserves are 2.1 MMbbls of oil and 1.2 Bcf of gas,* with current net production to Candax of approximately 350 bopd. Workovers are currently in progress and when complete the net production to Candax will rise modestly. A two-well infill development drilling program is underway which should increase production significantly.

* Ryder Scott Report 31/12/07