South Erin Field and License Area (Columbus, 100%)

The South Erin Block was acquired in mid-2018 by Columbus through the acquisition of Steeldrum Oil Company Inc.

The South Erin Block is a relatively new License, containing the South Erin field that confirmed the extension of the prolific Lower Forest/Cruse trend that exists in the adjacent Palo Seco and Erin areas. The aim is to further exploit the trend through the block to the un-explored areas to the west and north.

South Erin is an exploration and development block of which only 10% of the area has been explored through drilling.

The South Erin field produces from the Lower Forest sands which are known to be the most prolific oil producing sands throughout the Southern Basin. Cruse deltaic sands are also a target of interest in South Erin, with the ER98 well successfully testing the formation.

• Discovered in 2006 by Jasmin Oil & Gas Limited
• Contains 1.08 MMbbl of Reserves

• Recovery to date is 0.115 MMbbl.
• Productivity gains are planned by applying stimulation and sand management techniques from the Goudron Field.
• Infill and Appraisal drilling targets are planned including 2019  implementation

• 3D seismic data available
• Average South Erin Field production 1H 2018 of 85 bopd
• Significant exploration and development potential