The TEN fields consist of multiple stratigraphic traps with reservoir intervals consisting of a series of stacked Upper Cretaceous Turonian-aged, deepwater fan lobes and channel deposits. The TEN fields are being developed in a phased manner. The TEN PoD was designed to include an expandable subsea system that would provide for multiple phases. Phase 1 of the TEN PoD includes the drilling and completion of up to 17 wells, 11 of which have been completed. Seven additional development wells are expected to be drilled during Phase 2. The remaining Phase 1 and Phase 2 wells are a combination of production wells and water or gas injection wells needed to maximize recovery. Following first oil from the TEN fields in August 2016, oil production and water injection systems were commissioned and are now operational. In January 2017, the capacity of the FPSO was successfully tested at an average rate of 80,000 Bopd during a short-term flow test. However, due to certain issues with managing pressures in the Enyenra reservoir and because no new wells could be drilled until after the previously disclosed Special Chamber of the International Tribunal of the Sea (ITLOS) ruling , the operator has elected to manage the existing wells in a prudent manner to optimize long-term recovery over the lifetime of the field. This reservoir management is not expected to negatively impact the ultimate field recovery. In September 2017, ITLOS issued its final decision in the maritime boundary dispute between the Governments of Ghana and Cote d’Ivoire. The maritime boundary delimited by the Special Chamber’s decision had no impact on TEN production or reserves or otherwise on our interests in Ghana. Production from TEN in the year ended December 31, 2017 averaged approximately 55,800 bopd. We expect to resume drilling in early 2018 and production is expected to increase towards FPSO capacity. The construction and connection of a gas pipeline between the Jubilee and TEN fields to transport natural gas to the mainland for processing and sale was completed in the first quarter of 2017. In December 2017, we signed the TEN Associated-Gas Gas Sales Agreement (TAG GSA) and we expect to begin exporting TEN associated gas to shore in the second quarter of 2018. The TAG GSA provides for a sales price of $0.50 price per mmbtu. However, the uptime of the gas processing facility in future periods is not known. Our inability to continuously export associated natural gas in large quantities from the TEN fields could impact our oil production. Other Ghana Discoveries The Akasa discovery is located in the western portion of the WCTP Block approximately 31 miles offshore Ghana in water depths of approximately 3,200 to 5,050 feet. The discovery is southeast of the Jubilee Field. We believe the target reservoirs are channels and lobes that are stratigraphically trapped. The Akasa-1 well intersected oil bearing reservoirs in the Turonian zones. Fluid samples recovered from the well indicate an oil gravity of 38 degrees API. The Wawa discovery is located within the DT Block, north of the TEN fields. The Wawa-1 exploration well intersected oil and gas-condensate in a Turonian-aged turbidite channel system. In April 2016, the Ghana Ministry of Energy approved our request to enlarge the TEN development and production area subject to continued subsurface and development concept evaluation, along with the requirement to integrate the Wawa Discovery into the TEN PoD. Mauritania The C6, C8, C12, C13 and C18 blocks are located on the western margin of the Mauritania Salt Basin offshore Mauritania. These blocks are located in a proven petroleum system, with our primary targets being Cretaceous sands in structural and stratigraphic traps. We believe that the Triassic salt basin formed at the onset of rifting and contains Jurassic, Cretaceous and Tertiary passive margin sequences of limestones, sandstone and shales. Interpretation of available geologic and geophysical data has identified Cretaceous slope channels and basin floor fans in trapping geometries outboard of the Salt Basin as the key exploration objective. Multiple Cretaceous source rocks penetrated by wells and typed to oils and gases in the Mauritania Salt Basin are the same age as those which charge other oil and gas fields in West Africa. 18