RWE Dea continues its exploration success with a fifth discovery in the Sirte Basin. Following three oil discoveries in Concession NC193 and one in Concession NC195 since late 2006, a second discovery in NC195 further strengthens RWE Dea’s position in Libya.

The exploration well B1-NC195 drilled by the rig NWD#11 encountered gas/condensate in the Dahra Formation at a depth of 5187 ft and oil in the Beda Formation at a depth of 5541 ft. Subsequent production tests successfully established an oil flow of 840 bbls/day from the Beda and a gas flow of 15.4 MMSCF/day plus 204 bbls/day of condensate from the Dahra reservoir. The rig will now move to drill the third exploration well C1-NC195 in this concession.

RWE Dea’s current drilling campaign involving five rigs is targeting further promising exploration prospects also in Concessions NC193, NC194 and NC197. Furthermore, two wells have successfully appraised already encountered volumes recently, and further appraisal wells are planned. Altogether at least 10 more wells are scheduled to be drilled until the end of the year.

RWE Dea’s licence acreage in Libya covers a total of more than 40,000 square kilometers over seven concessions combined, which have been awarded to the company by the Libyan National Oil Corporation in May 2003 and January 2008, respectively. RWE Dea is the Operator with a 100 percent interest in the project.

(RWE Press Release)