The Halifax Prospect is located in blocks 205/22b, 205/23 and 205/24.

Seismic interpretation indicates the presence of a well-defined fault network within the fractured basement of the Halifax Prospect, analogous to that seen in Lancaster. Encouragingly, a previous well (205/23-2) drilled on the Halifax structure encountered oil and gas shows in sandstones immediately above the basement. In addition, Hurricane’s analysis of basement cuttings from the 205/23-2 well indicates the presence of oil thus mitigating the oil charge risk to the Halifax Prospect.

The recently drilled Lancaster Pilot well (205/21a-7) encountered a minimum oil down to (ODT) of 1,620m TVDSS, indicating that the Lancaster oil accumulation is likely to extend beyond the Lancaster licence boundary. The Company believes that if mobile oil can be demonstrated outside of local structural closure at Halifax, then the Lancaster Field could extend further North East along the Rona Ridge.

Recognising this, Hurricane has identified a well location on Halifax (the “Halifax Well”) and acquired a site survey over the prospective well location in preparation for the drilling of an exploration well. On the basis that permits can be obtained in time, Hurricane intends to drill the Halifax Well immediately following the Lincoln Well.

Below is a 3D depth surface of the Halifax prospect indicating its position on the Rona Ridge in relationship to the Lancaster field and the Westray Transfer Zone.