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Highlights: •The target for the Horse Hill Prospect are stacked oil and gas targets in the proposed 2,646 m (5,680 ft.) well. •Upside potential of an estimated 671 million stock barrels ("MMSTB") oil in place with an estimated total mean recoverable prospective resources of 87 MMSTB (Source: Magellan Petroleum (UK) Limited) •Additional prospectivity of 456 Bcf gas in place (mean 164+ Bcf recoverable prospective resource) in the proposed Triassic gas play (Source: Magellan Petroleum (UK) Limited) •The first well is expected to spud in Q3 2014.
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