The full address of the new office is:

For maps and addresses of all our offices please click here.

The Company moved from New Maadi to new premises in New Cairo. The new office is newly built with very modern facilities and is located in the El Lotus Area of the 5th Settlement of New Cairo, very close to the American University in Cairo. It also hosts Egyptian Petrochemicals Holding Company (Echem), a state-owned company supervised by the Ministry of Petroleum and Mineral Resources.

The full address of the new office is:

For maps and addresses of all our offices please click here.

The East Lagia concession is located onshore in the Sinai peninsula and covers an area of 2,989 km². Vegas will be the operator with a 100% working interest and this addition brings the total number of its concessions to six, five of which are operated.

The East Lagia Concession Agreement provides for an exploration period of total seven years in three phases. During these seven years Vegas will invest at least 11 million USD in seismic & other surveys and drilling of exploratory wells.

The well was drilled in 46 days and reached TD on 20^th July. The well was TD’d in the Ras Qattara formation at 14,470 in 8 ½ inch hole. Open hole logs indicated net pay of 21.5 feet in good quality Khatatba sands with an average porosity of 18% and water saturation of 33%. Formation pressures and sampling indicated the presence of gas condensate.

The Khatatba formation was completed and tested in August. The well flowed naturally and delivered average rates of 16.2 million cubic feet of gas per day (mmscfd) and 1,620 barrels of condensate per day (bcpd). The condensate gravity was measured as 56.9° API. The maximum rate produced was through a 1 inch choke at 26.0 mmcfd of gas and 2,571 bcpd. After the test, the well was suspended pending further testing operations.

In October, the well was re-entered using the workover rig SNOS-4. The shallower Abu Roash-G and Bahariya zones were tested using artificial lift. These zones had been previously identified on intermediate logs. The AR-G zone comprised some 7 feet of net pay with moderate porosities averaging 18%. The Bahariya net pay was identified as 15 feet with average porosity of 18%. The comingled zones produced hydrocarbons to surface at 125 bopd and 50% water cut. The oil gravity was measured as 25° API. The rig was released on 23^rd October with the well suspended as an oil producer. Further evaluation will be made once the down hole pressure gauges are retrieved in November.

It is planned to further appraise this discovery as part of the 2014 work programme and budget.

The East Lagia concession is located onshore in the Sinai peninsula and covers an area of 2,989 km². Vegas will be the operator with a 100% working interest.