Skipper

Block 9/21a (Source: Wood Mackenzie PathFinder/IOG)

The current licence, P1609, was awarded in 2009 and is currently owned:

IOG

100% (Operator)

Based on the appraisal well drilled in 2016, API is estimated at approximately 11 degrees.

Certified Stock Tank Oil Initially in Place (STOIIP) estimates from the CPR are:

Skipper STOIIP (MMBbls) P90 P50 P10
Gross 123.1 136.5 150.8

(Source: Competent Person’s Report.  AGR Tracs.  September 2013.)

CPR economically recoverable resources are estimated at:

Skipper Resources (MMBbls) Low Estimate Best Estimate High Estimate
Gross 17.9 26.2 34.9

(Source: Competent Person’s Report.  AGR Tracs.  September 2013.)

While the Skipper oil properties will present a challenge for refining and marketability, IOG has retained the Skipper licence until February 2019 in order to further consider potential routes to commercial development of the field.