Additional test data were obtained utilizing a larger capacity downhole pump (ESP) which was installed by the company for this latest phase of testing operations.

Based on the pressure drawdown and build-up data, this second phase of testing clearly indicates that the Ras Nowmah-2 well is potentially capable of producing at much higher flow rates.

The test data were analyzed by an independent reservoir engineering firm, in Calgary, which resulted in a calculated flow rate in excess of 5,000bbl/d at a 20% pressure drawdown.

The Ras Nowmah-2 well encountered 41mt of gross oil pay with only the upper 15mt of pay having been perforated for initial testing.

Structurally, the Qishn Sands, which were the primary target zone, came in approximately 4mt higher than expected.

Calvalley and its joint venture partners are encouraged by this discovery and its potential for opening a new exploration front on Block 9.

As a result, Calvalley is putting a drilling program in place to further delineate the Ras Nowmah Field discovery and to explore several other prospects in the vicinity of this discovery.

Currently, the company is in the process of preparing the Ras Nowmah-3 appraisal well location which is expected to spud in late September or early October.