Iecea Mica-1 Well - Drilling Update No. 3

• Well Depth at 1346 metres Total Vertical Depth - hole size 8 ½”. • Operations since last report – run and cement 9 ⅝” casing. Install wellhead and Blow Out Preventer. Drill out casing shoe and drill 8 ½“ hole from 808 metres to 1346 meters. • Current operations – drilling ahead in 8 ½” hole. • Future operations – drill to 7” casing depth and log well. • The first target reservoir intersection is