production testing to commence this weekend, page-2

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9th May, 2014
PHILIPPINE DEPARTMENT OF ENERGY – OPERATIONS PROGRESS OIL PRODUCTION TESTING PROGRAM AT MALOLOS-1 SERVICE CONTRACT 44 (100%), Onshore Cebu, Philippines
Gas2Grid Limited is pleased to advise that the packer and completion assembly have been run into the hole and the packer set in place immediately above the upper oil bearing sandstone. The swabbing unit is now being set up over the well and oil production testing will likely commence over the weekend.
The extended oil production testing program aims to gather sufficient technical information to confirm commerciality of the Malolos Oil Field to justify the Department of Energy awarding a 25 year production period and leading to full field appraisal and development. Proving commercial production at Malolos Oil Field will have a very significant impact on the value of the Company and will benefit the Philippine economy.