An opportunity exists to join VEGAS Oil & Gas with material equity in an attractive block with Cretaceous and Palaeozoic prospectivity proven within nearby producing fields in the prolific Gulf of Suez basin, in addition to multiple new plays essentially in Palaeozoic with significant resource potential within the under-explored Central Sinai.

The primary play in the South West area is the conventional Gulf of Suez Nubia sandstone reservoirs within structural traps charged by Eocene and/or Cretaceous source rocks. The Intra Palaeozoic reservoirs charged by Palaeozoic source rocks represent a new and very promising play in the Northern area of the block; the Palaeozoic HC plays identified in the block are analogous to the Palaeozoic Plays present in the Risha Field in Jordan.

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