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Maurel and Prom Begins Test on Banio 2 in Gabon

07-27-2007

Maurel & Prom begins long duration test on the Banio-2 well on the Nyanga Mayombe permit in Gabon, bought in February 2005.

Expected initial production is 1,000 bopd of oil at 28 degrees API.

This production forms part of a 9-month test (Maurel & Prom 100%) to assess the behavior of the reservoir; if the results are deemed satisfactory, additional assessment work will be undertaken.

The Banio project includes an oil processing center with a 6" diameter oil pipeline running 17 km over ground and 13 km at sea connecting the M'Bya installations operated by Perenco.

As far as the oil pipeline crossing the Marin Park is concerned, all the work was done with a constant eye on protecting the environment in cooperation with the National Parks Department.