Oryx Petroleum Corporation Limited provides an update regarding production, sales and development activities for the Hawler license area in the Kurdistan Region of Iraq.

Highlights: •Gross (100%) oil production: ◦December 2014 average of 3,900 bbl/d with a daily peak of approximately 8,500 bbl ◦January 2015 average of 3,100 bbl/d with a daily peak of approximately 9,800 bbl ◦Production levels constrained by market access

•Sales to the local market have been achieved with periodic interruptions since late December 2014; additionally, trial truck deliveries to the KRI-Turkey pipeline were completed in late December 2014 •Wells currently tied into the Hawler production facilities represent wellhead production capacity of 15,000 bbl/d with tie-ins of other successfully tested wells expected to increase wellhead production capacity to 25,000 bbl/d by early Q2 2015 •Appraisal / Development well testing: ◦Demir Dagh-10 ("DD-10") well: a completion test successfully flowed oil from the Cretaceous reservoir at a sustained rate of 6,500 bbl/d for two hours following a successful multi-rate drill stem test over a period of 21 hours ◦Demir Dagh-9 ("DD-9") well: the DD-9 well met its primary objective of obtaining reservoir data critical to delineating the field but did not achieve sustained flow rates of oil during tests in the Cretaceous reservoir ◦Demir Dagh-11 ("DD-11") well: data important to delineating the field was obtained but a sustained flow of oil was not achieved during a test in the Cretaceous reservoir; water entered the reservoir during the test indicating a problem with the cementing in the well; Oryx Petroleum intends to drill a short sidetrack for the DD-11 well with the expectation that the well will be a producer

Tags: Oryx Petroleum Corporation Limited