December 2002 Drilling and Production Activity



Krishna Persad & Associates (KPA)

Discussions with Petrotrin ongoing for lease renewal..

bpTT
No representative present.

British Gas

No representative present.

Engineering work on Dolphin Deep and Starfish ongoing, should come onstream in 2005.

No immediate plans for Block 6D.


Damus Oil Limited

Still to collect terms of reference form EMA for EIA..

Petrotrin (E&P SBU)

Drilling restarted 12th December, in Parrylands with D-99, it was awaiting completion at year end.

Petrotrin (Trinmar Operations)

Drilling activity to resume in January 2003.

Trinidad Exploration & Development

No representative present.

Have contracted a drilling rig from Well Services to begin drilling in the Bonasse area in January.


Venture
Planned 5 well drilling program still carded for this year.

Venture is still planning to acquire 100 km km of 2-D seismic over the Tabaquite Block.


Primera

No drilling planned for this year in onshore leases.

Priority will be given to East Brighton Farmout and U(b) block. Discussions for conversion to over-riding royalty in East Brighton ongoing. Hope to drill 6 wells and re-complete 2 exploration wells. Looking at options to produce oil to shore.


Shell

Should spud Pepper Sauce 1 on Jan 12th. 2003. Co-ordinates given are WGS 84 zone 20.


Vermilion

Extended production testing started on Carapal Ridge 1, current rates are 608 bcp/d and 23 mmcf/d.

Saunders 1, location completed, mobilising Rig 15 to spud.


Lease Operators Limited

Rig sales negotiations in progress. Currently rigged up on PS 417X with Rig 10, recovered 6 5/8" casing to 50' below the 9 5/8" casing, recovered approximately 2,000' of casing.

Will begin to drill shallow wells (+/- 400')in Morne Diablo farmout next month. South Quarry 3D data with contractor for reprocessing, as many as 5 deep wells are carded for that block.

Looking to sell up to 2mmcf/d gas to NGC, negotiations under way.

BHP Billiton

No representative present.

3D survey 75% complete, December's data lost when boat sank. The 2 commitment wells in Block 3A will be drilled in April-May. For Block 2C MOE is currently evaluating the proposed development plan. The 90 day period for this will end in the 1st. week of February.

TotalFinaElf

Nothing new to report.


EOG

A two well exploration and one appraisal well drilling program is carded to begin mid year, with at least one well in Lower Reverse 'L' (commitment well). The length of the lease for the SECC block was extended by committing to a new 3D survey. The planned 3D surveys over U-b, SECC and Reverse 'L' will be a conventional streamer survey.

Options for Parula development still under discussion.

Exxon

No representative present.


Tracmac

Geological study (Tyler) almost complete, hope to start drilling by June.


MOE

Nothing new to report.


AVERAGE DAILY OIL PRODUCTION FOR December 2002 (BOPD)

  LAND MARINE TOTAL
BP   na na
Petrotrin-TRINMAR SBU   32,708 32,708
BRITISH GAS    384.2  384.2
EOG   SECC 2,170

Osprey 1,424
3,594
KPA/MORAVEN   613 613
PETROTRIN E&P SBU 23,592 693 24,285
TRINTOMAR   125 125
 PRIMERA (excluding L/O blocks) 636   363
TOTAL 23,780 38,292 62,072


AVERAGE DAILY GAS SALES FOR December 2002 (MMCF/D)

BP na Gas sale to ALNG - na mmcf/d
Petrotrin-TRINMAR SBU 32.634  
BRITISH GAS 433.7  254.4 mmcf/d Dolphin, 179.3 mmcf/d Hibiscus - sales to ALNG)
EOG 186.9  127.8 mmcf/d (SECC)59.1 mmcf/d (Osprey)
PETROTRIN 0.65  
KPA/MORAVEN    
 VENTURE 0.291  
CUMULATIVE 654.175  



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