Track Record

• Shebah E&P Company Ltd (SEPCOL) operates the Ukpokiti oil field on OML 108 in shallow water Nigeria.

• The field produces oil from water depths of 27 m, with production delivered to a leased FPSO.

• Partners in the field are Express Petroleum and Camac, both of which are Nigerian companies.

• Shebah’s 40% share of the field was purchased from ConocoPhillips in May 2004.

• Production from Ukpokiti at that time was around 1,900 b/d.

• The first phase redevelopment plan involved re-activation of a shut-in development well that increased production to around 5,000 b/d.