Maha Energy AB (publ) provided the update from its operations in Brazil: Tartaruga: 107D:Further to the Company's November 22, 2018 - drilling of the 107D horizontal sidetrack was completed on December 18, 2018 and reached a Total Depth of 3661 m. The total length drilled in the Penedo 1 sandstone was 504 m. and encountered a total of 409 m. of sandstone of which a total of 328 m. contained very good to excellent oil and gas shows. This confirms the Company's expectation that by horizontally drilling the Penedo sands - a much wider productive area can be accessed than the previous wells which should result in higher production rates. Preparations were then made to run a 4-1/2" slotted liner to complete the well, but deteriorating hole conditions made the running of the 4-1/2" liner to 3661 m. impossible. Instead, a smaller 3-1/2" liner has been worked to a depth of 3267 m. at which point it could go no further. A gross interval of 394 m. of the horizontally drilled section of the well will be left barefoot', (Open Hole Completion1) of which 218 m. encountered very good to excellent oil and gas shows. The 110 m. lined section encountered 94 m of sand which were described to have `excellent' oil and gas shows. Preparations are now underway to selectively perforate the lined section of the horizontal and then complete the well using a dedicated 2-7/8" jet pump. Because of the reduction in liner size, a non-standard perforating string will have to be mobilized which will require some specialty equipment and additional planning. As such the rig will now be moved to the adjacent 7TTG well where it will complete the fishing job, add perforations and stimulate the Penedo 1 sandstone before returning to perforate and complete the 3-1/2" liner on the 107D well. 7TTG: The 7TTG well has produced some 327,000 barrels of oil from the Penedo 6 sandstone, and the planned workover for 7TTG involves adding perforations in the Penedo 1 sandstone and recompleting the well with its own jet pump. This work was originally planned for June/July 2018, but a stuck 3-1/2" tubing prevented the work to be completed last summer due to the workover rig limitations. The rig currently on site is a much larger rig and is expected to recover the stuck 3-1/2" tubing quickly. Once the drilling rig is on the 7TTG well, it is expected to take 14 days to fish, recomplete and stimulate the well, after which the well will be placed on production. The rig move is planned to take 10 days. Tie Field: Due to the continued delays at Tartaruga, the Company contracted a second drilling rig to commence operations at the Tie field. This drilling rig is currently finishing up drilling operations at a nearby location and is expected to be rigged up at the Tie field in approximately 2 weeks. The Attic well will drill and complete the producing Agua Grande and Sergi formations at a crestal position of the producing Tie Field. An additional objective of the Attic well is to penetrate the previously undrilled Boipeba formation. The Boipeba target is a three-way dip-closed fault bounded structure that has not been explored at the Tie Field previously. The Attic well is expected to take 30 - 60 days to drill, test and complete.