Drilling Program

JPR has completed the drilling of eight wells. Five wells (J-51, J-52, J-58, J-59 and Well 19) are currently in the process of having their Trial Production Licences (TPL) approved for the 2017-2019 period. The J-50 well TPL application is currently being prepared post the resolution a dispute over Akkar North reserve allocations. The J-53 and J-55 wells will require further remedial work before being brought onto production. Oil produced during the Trial Production period can only be sold into the domestic market. Production is currently shut in as domestic oil prices are uneconomic but the Company expects to return to production during 4Q 2017. Further details of the 2017-2019 drilling campaign will be announced as they become available.