monitor to aquire up to 90% stake trinidad

"MONITOR TO ACQUIRE UP TO 90% STAKE IN ONSHORE TRINIDAD
OILFIELDS & LOCAL DRILLING COMPANY
Highlights:
h Monitor signs HOA to acquire up to a 90% interest in three production licences in producing
onshore oilfields in Trinidad;
h Following the Acquisition Monitor will be a fully-funded oil production company with a significant
daily production profile and identified exploration upside;
h Independent experts Forrest A. Garb and Associates, Inc1 have assessed that the producing fields
contain oil reserves of:
o Proved plus probable (2P) of 4.8 million barrels
o Undeveloped Prospective Resources of 19.9 million barrels;
h Current production at the Project is approximately 700 bopd and, Monitor has a planned work
programme to lift production to more than 3500 bopd;
h Acquisition comes with established drilling inventory (9 rigs), personnel and operations all in place
on site."