Byron Energy Limited announced that Byron operated OCS-G34266 #F3 well ("F3") on South Marsh Island Block 71, was drilled to a final total depth of 7,717 feet Measured Depth ("MD") on 26 January 2018. After logging the well with open hole triple combo logging tools on 27 January, operations to run 7 5/8" casing to total depth prior to temporary suspension for completion in the D5 Sand are underway. Hydrocarbons in five discrete intervals were measured using both Log While Drilling (LWD) gamma ray and resistivity tools and wireline Triple Combo porosity tools. The primary target in the F3 well was the D5 Sand which logged 211 measured depth feet of oil pay (175 feet TVT net oil pay) as determined by open hole logs. While only 70 feet away from the previously drilled SM71 F2 well, the D5 Sand was 45 TVT feet thicker in the F3 and exhibits excellent rock properties with porosities in the 32% range. With the base of the D5 Sand in the F3 well 150 feet below the base of D5 Sand in the F2 well, the D5 Sand oil column has been further extended downdip. This means the total oil column proven by the three Byron D5 wells is an astounding 1,160 feet. The F3 well will be the second take point in the D5 Sand reservoir at SM71. The SM71 F1 well drilled in 2016 will be the other D5 producer and contains 91 feet TVT net oil pay in an updip position. With the additional penetration of the D5 Sand in the F3 well, Byron has re-evaluated pay counts in the F2 well based on bed geometry and well bore angle. This has resulted in an increase in TVT oil pay thickness in the F2 well from the previously reported 117 feet TVT net oil pay to 132 feet TVT net oil pay. These net pay counts will be used in the Company's annual reserve review and will result in a reserve upgrade for the D5 Sand. The Company will release its annual third-party assessed reserves and resources in its normal course of business later in 2018.