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Oil Search announces drilling report

Thursday, Dec 20, 2012

Oil Search reports that as at 06:00 hours KRI time on 20 December, the
Taza 1 ST1 well was at a depth of 3,200 metres and undertaking a well test over the interval from 3,056 to 3,200 metres.

During the week, the well was acidized and has subsequently flowed spent acid, drilling fluids and hydrocarbons at rates of up to 450 barrels per day.

The intention is to continue testing this section until a stabilised flow rate has been achieved. The forward plan is then to recommence drilling
towards the Euphrates Formation.

The Taza prospect is located approximately 80 kilometres southwest of the city of Sulaymaniyah. The primary objectives are Miocene and Oligocene carbonates of the Jeribe and Euphrates Formations.

Source: Oil Search Limited

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