OPHR Ophir Energy Plc

TIDMOPHR

RNS Number : 1229E

Ophir Energy Plc

02 November 2015

2 November 2015

Ophir Energy plc

("Ophir")

Results of G4/50-10 Exploration Well

Ophir announces that it has completed operations on the G4/50-10 exploration well that was testing the Soy Siam prospect. The well reached a total depth of 1,627 metres (True Vertical Depth Sub-Sea) and encountered the primary Miocene reservoir targets on prognosis in terms of both reservoir quality and depth. However, all reservoirs were dry and no hydrocarbon shows were encountered. The well has therefore been plugged and abandoned as a dry hole. Preliminary well failure analysis suggests that the structure had no access to charge, which was identified pre-drill as one of the key risks.

The rig will now move to drill the Parichat South West prospect. This well is independent of Soy Siam as it is testing a different petroleum system. The Parichat complex is a cluster of four fault blocks located 30 km south of the Bualuang field that have potentially been charged from deeper in the South Western Sub-Basin. Each fault block has multiple stacked, Miocene and Oligocene reservoir targets. The South West fault block is the initial target with a mean prospective resource of 25 MMbo and a 32% chance of success. If successful, the Parichat South East fault block would form an immediate follow on location.

Ends

For Further Enquiries please contact:

Ophir Energy plc +44 (0)20 7811 2400

Nick Cooper, Chief Executive Officer

Bill Higgs, Chief Operating Officer

Geoff Callow, Head of Investor Relations

Brunswick Group +44 (0)20 7404 5959

Patrick Handley

Carolina Desmeules

This information is provided by RNS

The company news service from the London Stock Exchange

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