Turkmenistan

Dec. 22, 2003
Burren Energy PLC, London, is acquiring 3D seismic data over the entire 1,047 sq km Nebit Dag production sharing agreement area in western Turkmenistan.

Burren Energy PLC, London, is acquiring 3D seismic data over the entire 1,047 sq km Nebit Dag production sharing agreement area in western Turkmenistan.

Burren oil field averaged 14,000 b/d of 33° gravity oil from 98 wells at the end of November 2003, or nearly 8,000 b/d net to Burren. Another 50 wells await recompletion, and Burren has initiated a pilot water injection project and fieldwide gas lift.

The PSA also has three producing oil fields, two gas fields, a several other prospective oil and gas discoveries and exploration prospects. Burren plans to continue to develop Burren field and begin drilling in proven undeveloped reserves areas and on exploration prospects this month. Burren is selling all its oil to BP PLC on an FOB basis. Tankers lift the oil at Cheleken or Okarem.

Three export routes have been used. One involves a swap agreement with Iran, and the others are via Baku, Azerbaijan, and Mahachkala, Russia.

Wyoming

PYR Energy Corp., Denver, signed agreements under which two private oil and gas exploration companies will drill on PYR's Overthrust Belt prospects. An initial well to Jurassic Nugget on the Cumberland prospect in 16-18n-118w, Uinta County, on the leading edge of the Absaroka thrust 5 miles northeast of Ryckman Creek field, to 10,600 ft is expected in early 2004. Ryckman Creek field produced more than 250 bcfe of gas from Nugget before abandonment.

PYR controls 6,233 net acres in the Cumberland area of mutual interest.

After drilling Cumberland, the participants will have an option to earn part of PYR's Greater Duck AMI surrounding its Mallard prospect at the south end of giant Whitney Canyon-Carter Creek gas field, also in Uinta. PYR controls 4,160 net acres there. The main target is the Mississippian Mission Canyon formation at 14,500 ft, the primary producing zone in the field.

PYR will have working and carried interests in both wells.