Mediterranean Oil & Gas plc provides the following operational update on its exploration well Teboursouk 1 (“TEB1”) in Tunisia (Range Operator; MOG 25%).

CTF - Rig 06 is currently drilling at 1616 m of depth. During the week the well drilled an alternance of beige to dark limestones and dark marls both rich in organic matter. Gas shows of 0.5% to 3.3% have been recorded during drilling.

The well logs, carried out over the weekend, are showing that the well drilled at least 5 metres of oil bearing dark limestones in the Bahloul Formation, inside the well’s secondary target. The Bahloul Formation is considered as a good source rock in the region.

The permeability of these limestones was measured as low and it was not possible to sample any oil. A full evaluation of well logs results is ongoing. No decision to test the oil bearing interval/s has been taken as yet and the position will be evaluated once the well has reached the forecast total depth.

The program is now to proceed with the set up of 9 5/8 inch casing and continue to drill.

TEB1 well is the first exploratory well on the Teboursouk prospect located in the southern part of the Medjerda Permit. The exploration well is designed to evaluate a new oil play concept for the area. Several Cretaceous proven source rocks are expected to participate in feeding the Teboursouk structure with hydrocarbons. The main exploration target is inside the Aptian sandstones expected from about 2000m to Target Depth.

The exploration target should be reached and drilled during the next drilling phase that will start in about 5 days after the logging and casing set up.

Sergio Morandi, Company CEO said, “Teboursouk 1 is progressing satisfactorily and should start to drill the main exploration target in about a week. The presence on logs of positive oil bearing indications in the exploration secondary target sequence is promising for the prospectivity in the Aptian sandstones, the main exploration target”