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GuyanaMaritimePermitFrenchGuiana,SouthAmerica

PossibleextensionoftheGuyaneMaritimepermit

ProjectProfile
Value:Undisclosed
Location:GuyanaBasinoffshoreFrenchGuiana
StartupYear:
WaterDepth:10,000feet(3,048metres)

TheZaedyusprospectislocatedintheGuyanaBasinoffshoreFrenchGuiana.InSeptember2010,ShellexerciseditsoptiontoincreaseitsinterestintheGuyaneMaritime
blockinFrenchGuianaby12%to45%,resultinginTullowhavinga27.5%interestinthelicense.TullowiscarriedbybothShellandTotalforthemajorityofthecosts
associatedwiththe3DseismicandtheforthcomingZaedyusexplorationwell.ThepartnersintheGuyaneMaritimelicenseareTullow(27.5%),Shell(operator,45%),Total
(25%),andNorthpetInvestmentsLimited,a50:50jointventureofWessexandNorthernPetroleum(2.5%).InSeptember2011,theZaedyusexploratorywell(GMES1)
encountered236feet(72metres)ofnetoilpayintwoturbiditefans.Drillingresults,wirelinelogsandsamplesofreservoirfluidsshowthatthewellfoundgoodquality
reservoirsandsonprognosis.

Thewell,situatedinawaterdepthof10,000feet(3,048metres),reachedadepthof18,737feet(5,711metres).Exploratorydrillingwillcontinue,andthewellwilldeepento
adepthof19,685feet(6,000metres)tocalibratethedeepergeology.Tullowwillthenlikelysidetrackthewelltoallowcorestobeobtainedoverthereservoirsections.Drilling
operationsarebeingperformedintheGuyaneMaritimelicenseusingtheENSCO8503semisub.TheZaedyusdiscoveryunlockedanewhydrocarbonbasinwithinseveral
neighboringprospectsthatweremapped,sotheoperatorwillnowconsiderperforminganappraisalprogramandanextensivefollowupwithexplorationactivities.Zaedyus
consortiumplanstocommencedrillinginmid2012ontheGuyanepermit,tofollowupontheZaedyusoildiscoveryinlate2011.Appraisaldrillingisplannedtodelineatethe
discovery.ShellhascontractedtheStenaDrillMaxICE(UDWdrillship)tocommenceoperationsmidyearsubjecttogovernmentconsent.

Operators:

Shell:Operatorwith45%interest

Tullow:27.5%interest

Total:25%interest

NorthpetInvestmentsLimited(50:50JVbetweenWessexandNorthernPetroleum):2.5%interest

Contractors:

StenaDrilling:ProvideroftheStenaDrillMaxICE(UDWdrillship)

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ProjectInformation

May13,2016

Hague and London Oil (HALO) has applied for an extension of the Guyane Maritime permit (through its ownership in Northpet Investments Ltd).As part of
this portfoliobuilding process, Vermeer (a wholly owned subsidiary of Hague and London Oil) has also agreed to participate in an extension of the Guyane
Maritime licence, offshore French Guyana. The original licence period expires in June 2016 and the partnership is currently realigning itself with respect to a
possible extension. The Company currently owns 44% of Northpet Investments Ltd, the holder of 2.5% of Guyane Maritime and has agreed to pursue a
threeyear extension of the Guyane Maritime licence, with at least one existing partner, whereby Northpet Investments Ltd would participate with a 7.5%
working interest, with the extension and assignment of interest being subject to a French Government approval process.

The extension would allow Vermeer to benefit, at a much higher working interest, from the significant investment (in excess of US$1bn) made to date in a
proven hydrocarbon basin with significant remaining potential within an environment where drilling costs are a fraction of what they once were. The licence
also has the benefit of more than US$80 million invested in 3D seismic data all of this prior to a recent largescale oil discovery in nearby Guyana that has
served to renew interest in these basins.

Nov14,2013

Shelloperated GMES5 well, the final well of the 2012 2013 four well exploration programme in the Guyane Maritime Permit (offshore French Guiana) has
been drilled to a total depth of 6,460 metres and the well will now be plugged and abandoned. Reservoir evaluation work has been conducted and the
reservoir sequences were encountered as expected but with no evidence of hydrocarbons.

The Joint Venture will now integrate the data from all five wells with the 3D seismic to determine future exploration plans on this licence, which covers
24,100 sq kms. Once the drill ship, the Stena ICEMax, has completed the abandonment operations it will move to a location outside French Guiana and be
off contract from the Joint Venture.

Aug14,2013

Shell is nearing the end of its fourwell programme off French Guiana as theAngloDutch supermajor spuds its last planned probe.

May10,2013

Shell has spudded the third probe in a current fourwell exploration campaign on the Guyane Maritime permit off French Guiana. The latest well GMES4,
targeting the Cebus prospect, will test the hydrocarbon potential of a different fan system to that of the previous three probes, including the initial Zaedyus1
discovery in 2011 that was estimated to hold 600 million barrels of oil. It is being drilled by drillship Stena IceMax that failed to hit hydrocarbon pay with the

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Projectclassification

Commence date: 2011

STATUS: CATEGORY: ON/OFFSHORE:

UPSTREAM APPRAISAL EXPLORATION DRILLING OFFSHORE

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Projectoperators

TullowOilSKLimited
9 Chiswick Park
566 Chiswick High Road
London W4 5XT
United Kingdom

CONTACT

Telephone:++44(0)2032499000
Fax:++44(0)2032498801
Web:http://www.tullowoil.com
Email:info@tullowoil.com

Shell(FrenchGuiana)
2260 Route De La Madeleine
Cayenne 97300
French Guiana

CONTACT

Web:http://www.shell.com

Total(FrenchGuiana)
Zone Industrielle
7 Lot Marengo
Cayenne 97300
French Guiana

CONTACT

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Projectmaincontractors

StenaDrilling(UnitedKingdom) CONTACT

Telephone:++44(0)1224401180
Ullevi House
Fax:++44(0)1224897089
Greenbank Crescent, East Tullos
Web:http://www.stenadrilling.com
Aberdeen
Email:SDLOperations@Stena.com
Scotland AB12 3BG
United Kingdom

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Projectsubcontractors
Nosubcontractorslisted

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Projectnotes

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