December 18th 2009 Moinesti, Romania

Expert Petroleum SRL, Romania is pleased to announce that as part of its program of mature oilfield rehabilitation in the Moinesti area, it has successfully started back the oil production on the Frumoasa field.  Frumoasa is a mature oilfield in the East Carpathians basin with 45 oil and injection wells producing from 4 horizons. The production was stopped in 1998 as considered as uneconomical and too complex to produce. The field study and new data acquisition on the field have shown that reserves are greater than initially estimated and that the field was partly depleted but has significant potential to increase the recovery factor from an actual 6% to an ultimate recovery factor of around 25%. Expert Petroleum is implementing a newly design water injection program and horizontal drains in new and existing wells to reach the by-passed oil and increase the production of the field.