PPL 213 Mirage Field and PPL 214 Ventura Field

(Impress 40% Working Interest)

 

The Mirage Field PPL 213 and Ventura Field PPL 214 production licenses were granted on the 25 August 2006.  PPL 213 and PPL 214 are two separate production permits located within PEL 115.

 

Although production from these fields is marginal, it is still profitable at current oil prices and exchange rates. Over the past twelve months production from the three wells online, Mirage-1, Mirage-4 and Ventura-1 has stabilised at approximately 80 BOPD in total. The Mirage and Ventura Oil Fields produced a gross 29,473 barrels of oil for the period 1 July 2008 to 30 June 2009, with Impress’ share of production being 11,789 barrels of oil.