Central Graben
6 December 2017

Seagull North exploration well with Fulmar primary objective in interpod play between Seagull and Skua Triassic sediment pods. Well located on tilted fault block structure, but main play required lateral fault seal to north against Skua pod, with dip-closure to south. Well encountered top Fulmar at 13,611 ft (13,524 ft TVDSS), directly subcropping Valhall with Selkirk objective absent. Fulmar 268 ft gross with 166.5 ft net sand and average porosity 19%. Oil down to 13,740 ft (13,654 ft TVDSS) with 96 ft of net pay. Deeper sands tight or water-wet. Proven oil column consistent with accumulation restricted to fault block closure, with northern fault not sealing. Estimate mean STOIIP post-well 7.3 mmbbl.