Maurel & Prom: Colombia - Positive Results of the First Stratigraphic Well in the CPO 17 License

By Maurel Prom, PRNE
Sunday, February 20, 2011

PARIS, February 21, 2011 - A program to drill stratigraphic* wells has begun on the CPO
17 license (Hocol-Operator 50% and Maurel & Prom 50%) in Colombia. This
drilling campaign is targeting different geological objectives present in
this license.

The first well drilled to a depth of 864mt has shown the
presence of "in situ" oil in the Basal Oligocene Sands.

*Stratigraphic wells are drilled with lighter mining-type
equipment. These lower cost drilling equipments, allow for substantial
savings compared with regular drilling. This method allows for verification
of seismic surveys and obtains core samples. In general, these wells can't be

96m of cores have been obtained out of which 27mt have oil
impregnation, and 9mt show significant oil saturation. Additional analysis is
being carried-out to determine reservoir parameters. There have also been oil
indications during drilling in the C5 and C7 formations.

The work program for this prospect includes additional
stratigraphic wells and a regular exploration well with a main Oligocene
objective (Merlin-1), to allow for a possible production testing. There are
also other large prospects which have been defined thanks to a 2D seismic
acquisition of 680km during 2010.

The CPO-17 license covering an area of 2,103 kmsquared was
awarded during the 2008 ANH competitive bid round. It is located at 200 kms
to the South East of Bogota in the heavy-oil prolific Llanos basin half way
between, the major producing fields in this area of Colombia, Castilla and
Rubiales fields.

For more information, visit

                            Next announcements:
    31/3/2011 2010          full-year earnings (after close of trading)
    1/4/2011                Presentation to analysts (10 am)
    12/5/2011               Annual General Meeting (10 am)

This document may contain forward-looking statements regarding the
financial position, results, business and industrial strategy of Maurel &
Prom. By nature, forward-looking statements contain risks and uncertainties
to the extent that they are based on events or circumstances that may or may
not happen in the future. These projections are based on assumptions we
believe to be reasonable, but which may prove to be incorrect and which
depend on a number of risk factors such as, fluctuations in crude oil prices,
changes in exchange rates, uncertainties related to the valuation of our oil
reserves, actual rates of oil production and the related costs, operational
problems, political stability, legislative or regulatory reforms, or even
wars, terrorism and sabotage.

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