Name and Location
Cabaça South East-1 field exploration project, Angola.

Project Description
Oil has been discovered in Cabaça's South East-1 well, at a depth of 470 m. The field is located in block 15/06, some 100 km off the coast of Angola. Oil reservoirs, with a total thickness of 450 m, have been proven and initial evaluations indicate the existence of high-quality oil.

Cabaça South East-1 is the seventh of eight expected exploration wells within the contractual commitments of the licence. Other discoveries on block 15/06 offshore include Ngoma, Cabaça Norte, Sangos, Nzanza and Cinguvu.

Value
The value of the project has not been disclosed.

Duration
The project is ongoing.

Client
Italy's Eni, with a 35% working interest in block 15/06, in partnership with Sociedade Nacional de Combustiveis de Angola (Sonangol) Pesquisa e Produçao, with 15%; SSI Fifteen, with 20%; Total, with 15%; Falcon Oil Holding, Petróleo Brasileiro (Petrobras); and Statoil, with 5%.

Key Contracts and Suppliers
None.

Latest Developments
None stated.

On Budget and on Time?
Exploration activities at block 15/06 are ongoing, and there is one more exploration well yet to be explored.

Contact Details for Project Information
Eni, tel +39 25 205 1651, or investor relations senior vice-president Claudia Carloni, email carloni_investor@eni.com.
Falcon Oil Holding, tel +244 222 37 2024 or fax +244 222 37 2058.
Petrobras, tel +55 21 25 34 1295, fax +55 21 25 34 3761 or email info@petrobras.com.br.
Sonangol media and press, tel +244 226 64 3343/3342 or email CGI@sonangol.co.ao.
Statoil Angola, tel +244 222 64 0900 or fax +244 222 64 0999.
Total E&P Angola, tel +244 222 67 2000 or fax +244 222 67 2261.