Georgian Overview

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• Strong strategic relationship with excellent local partner with own infrastructure to reduce operating costs
• Focus on low cost recompletion and stimulation of existing, shallow, oil producing wells 
• Multi – zone potential for conventional oil reservoirs
• Significant scalability of under-exploited resource by applying modern drilling & fracking technologies
• Option to farm-in on exploration assets
• Minimal government bureacracy, favorable fiscal terms and ability to sell light oil at Brent prices 
• Government declared intention to maintain goal of EU and NATO memberships