Cabot Energy announced on 28 September 2018 that it was in discussions with potential farm-in partners for the F.R 39.NP and F.R 40.NP exploration permits in the Adriatic Zone F ahead of a 3D seismic acquisition and the drilling of an appraisal well on the Giove 2 discovery in the F.R 40.NP permit. The 670-sq km survey, planned for Q1 2019, will allow the company to mature the Cygnus prospect for drilling and to define an appraisal well location for the Giove 2 oil discovery. The 3D data will also help defining new drilling locations on some of the 10 mapped prospects in the Durres Basin acreage (southern Adriatic). Data integration in the analysis of the potential of the Medusa prospect in the F.R 39.NP highlighted a significant potential for the Cretaceous series.    In March 2013 the mean prospective resources for the Cygnus prospect were evaluated by ERC Equipoise Ltd (ERCE) at 446 MMbbl of oil, of which 401 MMbbl lie within the F.R 39.NP permit area. The prospect trap is predominantly stratigraphic and the reservoir is the same as Aquila, i.e. the Paleocene-Jurassic carbonates (Scaglia, Maiolica and Aptici formations). Based on the assumption that the Cygnus prospect shares a common oil-water contact with the nearby Aquila oil field in Eni's F.C 2.AG concession, high case (P10) resources are estimated at 978 MMbbl of oil, of which 790 MMbbl lie in the F.R39.NP permit. The chance of success for the Cygnus prospect is estimated at 12%. In addition, ERCE assigned 2C contingent resources of 26 MMbbl of oil for Giove 2.    Northern Petroleum (now Cabot Energy) was awarded the adjoining F.R 39.NP and F.R 40.NP contracts on 21 and 22 June 2007. Both blocks are covering 735 sq km and are sited in water depths between 150 m and 500 m in the southern Adriatic Sea. The company completed the acquisition of 600 km of 2D seismic over the two permits in November 2011. Due to the lengthy approval process relating to the 3D seismic program, the contracts were suspended on seven occasions between 2012 and 2017 for a total of five years and six months (as of November 2017). In November 2016 Northern Petroleum announced that it had agreed to farm-out a 10% interest in both permits to High Power Petroleum LLC (subject to approval).    Northern Petroleum (UK) Ltd, a wholly-owned subsidiary of Cabot Energy Plc, holds a 100% interest in the F.R 39.NP and F.R 40.NP exploration permits.    For further information please contact the following:    Keith Bush:Â  k.bush@northpet.com    Carlo Caldarelli: c.caIdareIIi@northpet.com  Cabot Energy Plc    Chester House,    Kennington Park,    1-3 Brixton Road,    London SW9 6DE    Tel: +44 7469 2900    Fax: +44 7469 2901
Italy (Apulian Platform - South Adriatic-Durres B.) Giove 2