Central Graben
31 December 2012

Carnaby exploration. Low-relief dip-closure with Lower Eocene Lower Tay (primary) and Cromarty (secondary) objectives at c. 3,670-3,800 ft. Lower Tay reservoir marked by discontinuous high amplitude reflectors, with pre-drill reserves 15-50 mmbbl oil. Well encountered 86 ft gross oil column with 51 ft net pay in Tay, including 46 ft massive and unit. Porosity 36%, So 85%. Recovered 24°API oil sample. No OWC seen. Cromarty sands water-wet.