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MPRL E&P Starts Mobilization for Onshore Deep Wildcatting below Mann Field - May 10, 2011 MPRL E&P Pte Ltd ( “MPRL E&P” ), the only independent exploration & production company active in both onshore and offshore Myanmar, is pleased to announce the start of mobilization of drilling operations for drilling of Mann Deep East-1. MPRL E&P along with state owned company MOGE operates the Mann Field, in onshore Central Myanmar, under a Performance Compensation Contract ( more under the website of MPRL E&P at www.mprlexp.com ). MPRL E&P is now exploring the deep HC prospectivity below the currently producing Mann Field, a narrow N-S anticline plunging to the North, as well as the HC potential in adjacent compartments.
A new 1,800-hp AD-2 rig belonging to a sister company Asia Drilling Pte Ltd. ( “Asia Drilling” ) has successfully been mobilized to the location of the drilling operations without any incident in spite of difficult weather conditions and challenging access logistics. This latest generation AC-VFD rig, with a depth rating of 20,000 ft, includes all the drilling facilities such as draw-works, iron roughneck and top drive system from the best manufacturers in USA. The state-of-the-art AD-2 rig will ensure that the deep targets of this challenging well will be reached in a minimum of time with a maximum chance for technical success. Asia Drilling’s AD-1 rig has just finished a drilling campaign for Carnavon Petroleum in Thailand with high praise for its impeccable technical and HSE performance. Background : Some twelve wells have been drilled in the past in order to reach the Mann Deep objectives. Most wells have been drilled in near crestal position. The main reason for their failure to reach these deep objectives is attributed to high overpressures, exceeding 20 ppg in some cases. The seismic image and available well information suggest that those overpressures are highest in the core of the Mann Fold. As the main drilling challenge of the Mann Deep prospect is to overcome these overpressures, MPRL E&P has determined to reach the Mann Deep objectives from the eastern flank by a deviated well hoping to avoid the harshest of these overpressures. Drilling operations are anticipated to commence in late June 2011 and are to last for about 2-3 months to reach TD. MPRL E&P will regularly update the status of these operations as significant milestones, and as and when results are achieved. To date, the company has invested nearly US$ 120 million in Mann Field Project alone. The budget allocation for this year is US$ 23.8 million. MPRL E&P also operates the large Offshore Block A-6, off the western coast of Myanmar. MPRL E&P is aggressively pursuing exploration and interpretation of a promising 3D seismic cube. MPRL E&P will be reporting in the near future on the progress of activities and plans for this block, where the Company intends to drill a wildcat with a sidetrack on textbook examples of Direct HC Indications ( flat spots ). A share is available for farming into this block, see under the website of MPRL E&P at www.mprlexp.com.
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MPRL E&P intends to drill Mann Deep East-1 to PTD 14,600 ft along hole with three objectives. The uppermost objective towards 7,000 ft consists of the same Oligo-Miocene reservoirs as producing in the Mann Field to be drilled in an adjacent compartment to the East. The deep objectives between 11,000 and 13,500 ft consist of the Lower Oligocene Shwezetaw sandstones below the Mann Field, on each side of the Mann eastern bounding fault. The reservoirs are expected to be highly overpressured. These sandstones are known to be HC bearing in several fields to the north of Mann.