Jun 4, 2013 - Drilling of HRT's second exploration well is underway on the Murombe prospect in PEL23 off the coast of Namibia in the Walvis Basin. Murombe-1 is being drilled by the Transocean Marianas (DW semisub) in over 4,500 feet of water. The first well, Wingat-1, failed to find commercial quantities of hydrocarbons but did prove the existence of two excellent oil-producing source rocks. Main objective of this well is to test the potential of Barremanian aged turbidite reservoirs. A secondary objective is to test a Santonian-aged channel complex which lies between the two source rocks. It is estimated that it will take roughly 72 days to drill to the proposed depth of 17,585 feet. HRT serves as operator of the permit with 86% interest and its partner, Galp Energia, holds the remaining 14%.

May 23, 2013 - As previously announced, the partners in Block I drilled a sidetrack to the I-7 well that successfully tested the Carla South prospect off Equatorial Guinea. Well I-7 ST-1 reached a measured depth of 11,351-feet and encountered 36 gross-feet of pay in good quality sands. The sidetrack was able to prove oil through several intervals in the Carla trend but further analysis is needed to determine the implications. The well will be plugged and abandoned and the appraisal drilling program in Block I will continue.