Field Rehabilitation Programmes

The rehabilition of the Pannonian Basin and Southern Romania fields will be carried out during a cumpulsory Phase 1 (typically two-three years duration) and an optional Phase 2 (again two-three years). The compulsory programmes include field reservoir studies, seismic acquisition / reprocessing and in some cases well re-entry. The optional Phase 2 may in some cases involve commitment to additional development well drilling or additional work-over. The company also commits to a programme of technology transfer, training and environmental works for all fields.

Blackstairs has made estimates of the remaining recoverable reserves of oil and gas from our Romanian fields. These estimates are subject to revision as reservoir studies are completed and the results of well interventions or new development wells are incorporated to the field database.

The estimated range of remaining recoverable reserves is: 2.02 - 4.4 Million barrels of oil equivalent (mmboe).