London, 29 April 2019

Baobab Phase 4 drilling campaign completed

The Phase 4 infill drilling campaign has been successfully completed with an additional four production wells and two water injectors. This has brought gross production back up to 34 000 boe/day.

In 2018 the Phase 4 drilling campaign recommenced after being suspended in the spring of 2016. The preparations for this campaign were laid in 2017 with the sanction by partners of four production well targets and two new water injection targets. The Transocean Discoverer India drillship was contracted, and activities commenced on 18 May 2018.

The drilling campaign has been completed on time and on budget. Svenska’s net working interest is 27,39%