MPI and Deep Well O&G Announce the Good Progress of Their Pilot Operation in Alberta (Canada)

Regulatory News:

MPI (Paris:MPI):

MP West Canada, wholly owned by Saint-Aubin Énergie S.A.S., a joint investment vehicle between MPI (2/3) and Maurel & Prom (1/3), hold a 20% stake in Deep Well Oil & Gas, 25% of twelve licenses from Andora and Deep Well O&G and has and has an option on about fifty licenses held by Deep Well O&G, which can be activated against financing of the works needed for production operations.
(cf. schematic overview of MPI’s organization at the end of the press release)

Sawn Lake pilot operation, managed by Andora (operator, 50% stake), aims to demonstrate the project feasibility of oil producing in the Peace River Oil Sands region. The success of this project lies on the economic performance of the steam assisted gravity drainage process (SAGD).

The wells were drilled to a true vertical depth of approximately 650 meters and have a horizontal length of about 780 meters. Work is anticipated to begin shortly on the building of the steam generation, water handling, oil-treating, water source and disposal facilities, along with pipeline tie-ins between the production facility and water source wells. Steam operations are expected to begin in late January, with first oil production anticipated in the first half of 2014.

The press release is available on Deep Well O&G website at the following address (www.deepwelloil.com/news).

For more information: www.mpienergy.com

----------------------------------------------------------------------------------------------------

This document may contain forward-looking statements about MPI's financial position, income, activities and industrial strategy. By their nature, forward-looking statements contain risks and uncertainties to the extent that they are based on events and circumstances that may or may not happen in the future. These projections are based on assumptions we believe to be reasonable, but which may prove to be incorrect and which depend on a number of risk factors such as fluctuations in crude oil prices, changes in exchange rates, uncertainties related to the valuation of our oil reserves, actual rates of oil production and the related costs, operational problems, political stability, legislative or regulatory reforms, or even wars, terrorism and sabotage.

Photos/Multimedia Gallery Available: http://www.businesswire.com/multimedia/home/20131209006180/en/