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Davor Provides Update on EWA 4X well, East Wadi Araba Concession Gulf of Suez, Egypt

Source: www.oilegypt.com 8/2/2007, Location: Egypt

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Mogul Energy International, Inc. has been notified by project operator Dover Investments Ltd. that drilling on the EWA 4X well at the East Wadi Araba (EWA) Concession is progressing as planned. The well is being drilled from an onshore location, and is being deviated to test the offshore Raha formation and a large light oil target in the Nubian Sandstone reservoir in the Gulf of Suez that forms the significant reservoir in several major oilfields.

The well is currently drilling at 2200 feet at an angle of 41. The current drilling plan anticipates that 13 3/8” casing will be set in the next few days and then Dover will continue drilling the well which will deviate up to an angle of 65 from the vertical. Dover anticipates that the well will reach target depth, which is expected to be below 7,100ft (drilled depth), or 4,180 ft vertical depth in about 20 days time.

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