Douglas-1 Well Completion Report

Douglas-1 was drilled from the Wingrove well site, located at the intersection of Bird Road and Waihapa Road targeting the open fracture system contained in a three-way dip closure of the Oligocene Tikorangi Limestone sub-thrust against Murihiku basement. The Tikorangi Limestone was considered a principal target in this area as it has produced c. 26 mmbbl oil in the adjacent Waihapa-Ngaere oil field. Douglas-1 was spudded, as a re-entry of Wingrove-1 on the 22 April 2012 and reached TD of 2955 m in 19 days on the 11 May 2012. Oil shows were observed in the Mt Messenger, Manganui and Tikorangi Formation where total circulation losses were encountered. The well was cased and completed with 2 7/8 tubing and is suspended awaiting further testing.