Located onshore in NW part of OML-11, Abia State, Nigeria, Area 23km2
	Part of Shells OML 11 block
	4 wells (3 surface locations)
	Field produced 1MMstb (API 37), part of Shell’s OML 11 block, 3 suspended wells
	Hardy holds a 40% working interest

Oza Field is located on land in the north western part of OML 11, near Port Harcourt. The concession area is 20 km².

The field was discovered in 1959 with the discovery well, Oza-1, drilled to a depth of 3,279 m. The well was proposed to test a separate anticlinal culmination on the south-eastern extension of the Imo River-Igrita trend. The hydrocarbon-bearing sands found in Oza are correlatable with the oil-bearing sands discovered in Imo River wells.

Subsequently, three other wells were drilled in the field. Oza-2, an appraisal well, was drilled to a total
depth of 11,000 ft and confirmed the lateral extent of some intervals found in Oza-1. Oza-3, another
appraisal well, was drilled to TVD 11,000 ft in October 1974. At the time of award of the field, the field had been shut in from 1983 due to declining oil production and increasing GOR.
OML 11 is held by a joint venture operation between NNPC, SPDC, ELF Petroleum Nigeria Limited and
AGIP (the ‘‘OML 11 Joint Venture Parties’’).

Pursuant to a farm-out agreement dated 27 April 2004 (the ‘‘Oza Farm-out Agreement’’) between the
OML 11 Joint Venture Parties and Millenium, Millenium is the operator of the Oza field and has
responsibility for undertaking the exploration, prospecting, winning, working and carrying away of
petroleum in respect of the Oza field. The terms of this agreement are for an initial five year period from 27 April 2004 subject to an extension of the Oza Farm-out Agreement if approved by the Nigerian
Department of Petroleum Resources.

On 27 June 2005 HON entered into a farm-in agreement with Millenium (the ‘‘Oza Farm-in Agreement’’),
pursuant to which it was agreed that Millenium would farm-out a 40 per cent. participating interest in the
Oza field to HON. HON also agreed to act as technical partner for the development and operation of the
Oza field. The terms of this agreement are for an initial five year period from 27 April 2004 with the
possibility to extend the term if the Oza Farm-out Agreement is approved by the Nigerian Department of Petroleum Resources.

On 31 December 2007 the Company announced that a well test was successfully carried out on well no.
4 with flow rates averaging approximately 600 stbd of oil average GOR of 5,466 scf/stb.

As announced on 3 April 2008 the Company entered into an agreement to farm-out a 20 per cent. interest in the Oza block to Emerald Energy Resources Limited (Emerald).

The working interests (per cent.) of the field are as follows:

© Copyright 2005 Hardy Oil and Gas plc