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MPRL E&P Pte Ltd. signs PSC for Offshore Block A-6 Myanmar

MPRL E&P Pte Ltd. signed a Production Sharing Contract for Offshore Block A-6 on 18 January 2007 with the Myanma Oil & Gas Enterprise ( MOGE ) in Nay Pyi Taw, Myanmar.

Block A-6 covers an area of approximately 9,830 square kilometers and is located on the western coastline of Myanmar just south of Blocks A-1, A-3 and A-4 currently operated by Daewoo and CNOOC respectively.

Originally, Block A-6 was explored by MCSI ( Martaban Cities Services Inc. ) and MOGE, where 2D seismic was run in the early 70’s. A non-exclusive shallow marine survey was also performed by CGG in 1993 for a total of 1,870 line kilometers.

Sediments of the Arakan Coastal Region covering Blocks A-1 all the way down to A-7 were deposited in the same geological environmental setting. Seismic sequence stratigraphic analysis indicates that there are two different reservoir types developed in the deep marine environment in the Pliocene period. One series of sediments are deep sea turbidites deposited in basin floor fans as part of the Bengal Fan System. The other series of sediments are transported from the Indo-Burma ( Rakhine ) Ranges in the East. Thick massive gas bearing sands were discovered in deep sea turbidities ( Daewoo Blocks A-1 and A-3 ). Strike slip faults and shale fill channels were developed as flow barriers.

MPRL is currently in discussions with potential farm-in partners for Block A-6.

MPRL E&P Pte Ltd. currently operates an onshore Production Enhancement Contract ( PCC ) with MOGE in the geologically complex Mann Oil Field, which is located in Central Myanmar Basin. MPRL have been involved in this project since September 1997. Mann Field Production Enhancement Project has so far produced 6.8 million barrels of crude oil and 4.2 bscf of associated gas as of December 2006. Approximately half of that crude oil and all of the associated gas can be attributed to the Production Enhancement Project’s efforts. The Project’s investors have invested US$ 80 million as of December 2006. MPRL expects that there are over 10 million barrels of recoverable crude remaining in the Mann Field.

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