Block CI-01

* Direct participating interest, Afren also holds rights over an
   additional 15% interest

** Management estimates at 31 December 2009

Block CI-01
Block CI-01 was awarded to United Meridian Corporation in 1994, and is located in the easternmost part of Côte d’Ivoire offshore, adjacent to the international border with Ghana. It extends from near the shoreline to 1,900 metres water depth and is located approximately 52 kilometres from Abidjan.  Three separate significant hydrocarbon accumulations have been discovered by exploration drilling in the late 1970’s through the mid 1980’s by Esso and Agip.  The Kudu, Eland and Ibex discoveries are estimated to contain in excess of 105 bcf of gas and 8 mmbbls of liquids.

Other partners in the block are PETROCI (20%) and SK Energy Co Ltd (15%).

Forward development plan
Preparatory work is under way on Block CI-01 to evaluate options to develop the gas and oil reserves already defined on the block.  The proposed concept is to develop the Kudu, Eland and Ibex fields with gas tied back via pipeline either to an onshore power station or the Lion Gas Plant, where it will be treated and supplied to the local market. Produced oil will be sold on the international market. Appraisal drilling is scheduled for Q3 2010.