CEE EXPLORATION POTENTIAL
VERMILION HAS BUILT A HIGHLY PROSPECTIVE EXPLORATION PORTFOLIO ACROSS CEE
Approximately 2 million net acres of undeveloped land in the Pannonian basin across three countries (Hungary, Croatia and
Slovakia)
Focused on under
-invested basins prospective for both oil and gas that can benefit from new technology
CROATIA
700,000 net acres with four licenses prospective for natural gas and light oil
Drilled two successful gas wells in 2019 on the SA
-10 block which tested at 15 mmcf/d and 17 mmcf/d, respectively*
o
First production from SA
-10 block planned for 2023
o
292 km
2
of modern 3D seismic data in the SA
-10 block has been acquired over acreage surrounding the two discoveries
365 km
2
of modern 3D seismic in the SA
-07 block is being acquired over the under explored acreage between and adjacent to
three highly prolific oilfields which have produced in excess of 193MM bbls to date
HUNGARY
950,000 net acres with four licenses prospective for shallow gas and light oil
Two producing wells that have produced over 1.0 bcf to date
Multiple oil prospects being evaluated which lie along a proven and producing oil play fairway in the adjacent concession
SLOVAKIA
100,000 net acres with two licenses prospective for natural gas
Trnava Licence
– a series of unproduced gas discoveries made during the 1950’s planned to be developed using Vermilion’s
newly acquired proprietary 3D seismic data set. Several un-
drilled fault
-blocks imaged by 3D will also be tested.
* Ceric
-01 well (100% working interest) tested at a final flow rate of 15.0 mmcf/d at a stabilized flowing wellhead pressure of
851 psi on a 0.86 inch diameter choke during a one hour flow period following perforating. An additional 18 hour flow test was l
ater conducted at reduced rates to
limit flaring. During this test, the well flowed at a rate of 6.2 mmcf/d at a stabilized flowing pressure of 1,376 psi on a 0.37
inch choke. No formation water was produced during the tests. The well encountered 32 feet of net pay in two Upper Miocene Pannonian sandstones from 3,346-
3,353 and 3,828-
3,861 feet. Only the lower zone was tested. Berak
-01 well (100% working interest) tested at a rate of 17.2 mmcf/
d during a four
-hour flow period with a stabilized flowing wellhead pressure of 908 psi on a 0.875 inch diameter choke. A final
shut in wellhead pressure of
1,186 psi was recorded following the flow test. The flow test continued an additional 12 hours at reduced choke sizes to mini
miz
e flaring. No formation water was produced during the test. The well logged 21 feet of net gas pay with an average porosity of 3
2% from the Upper Miocene
Pannonian sandstone occurring within a gross measured depth interval of 3,006
-
3,033 feet. Test results are not necessarily indic
ative of long
-
term performance or ultimate recovery.
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FOCUSED ON ESTABLISHING LOW COST POSITIONS IN THE UNDER
-EXPLOITED PANNONIAN BASIN