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Testing of the Deventci R1 Ozirovo Discovery

- BULGARIA DOMESTIC GAS PRODUCTION PROJECTED FOR 2011 - A GREAT OPPORTUNITY FOR DIVERSIFICATION - TREMENDOUS IN-COUNTRY POTENTIAL. Testing of the Deventci R1 Ozirovo Discovery. Overview of Direct Petroleum’s Projects in Bulgaria. Bulgaria Overview.

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Testing of the Deventci R1 Ozirovo Discovery

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  1. - BULGARIA DOMESTIC GAS PRODUCTION PROJECTED FOR 2011- A GREAT OPPORTUNITY FOR DIVERSIFICATION- TREMENDOUS IN-COUNTRY POTENTIAL Testing of the Deventci R1 Ozirovo Discovery

  2. Overview of Direct Petroleum’s Projects in Bulgaria Bulgaria Overview • Nine years of oil and gas exploration activities in Bulgaria on A-Lovech, Vratza West, and Aglen Blocks. • As a result of this activities, which included the use of DPE’s proprietary geophysical technology, DPE discovered the West Koynare gas/condensate field with its Devenci R1 exploration well. The Devenci R1 discovered not only a new field, but a new geological play never before evaluated in this area. • The newly discovered Hydrothermal Dolomite play is a significant world-wide reservoir type that has been proven productive in Bulgaria with DPE’s Deventci R1 discovery well. • The prognoses resources of natural gas only for the West Kojnare is 200-300 bcf • The existing potential resources for the both trends is over 1 tcf

  3. Direct Petroleum Projects - Benefits to Bulgaria Benefits to Bulgaria • A successful development of DPE projects will provide strategic benefits to Bulgaria: • Improve energy security, diversify Bulgaria’s energy supply; • Promote economic development, job creation; • Provide significant government revenue in the form of taxes and royalties; • More than $50,000,000 was invested for the exploration works; • Much more need to be invested for the development of this discovery.

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