Winstar Resources Ltd. has resumed production, under normal operating conditions, at two of its 100% owned and operated Southern Tunisian production concessions ( Chouech Essaida and Ech Chouech) which, due to labour unrest and related safety plus security issues, had been shut in since January 16, 2013.
The re-opening of two of Winstar's Southern Tunisian concessions (representing 75% to 80% of Winstar's total January 2013, deliverability) was done in coordination and, at times, under the close supervision of the relevant Tunisian authorities, both national and regional. Such authorities have provided Winstar with appropriate guarantees for normal operations, as demonstrated during the recent incident free re-opening, which began ar ound February 12, 2013.
Total Company production as of February 19, 2013 was approximately 900 net barrels of oil equivalent ('boepd'). Production is expected to rise to about 1,000 net boepd by February 22, 2013, and 1,250 net boepd during the week of February 25, 2013.
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Winstar Resources Ltd.
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