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Repsol makes its largest ever oil find!

Tuesday 8th of November 2011

One of the world's largest and highest quality non-conventional reservoirs, located in southern Argentina.

The company confirms the existence of significant volumes of non-conventional hydrocarbons in the Loma la Lata area, where Repsol YPF has rights to 12,000 km2.

Exploration in an area of 428 km2 yielded 927 million barrels of oil equivalent in recoverable resources, 741 million of which are oil.

This volume is similar to the existing reserves of YPF.

Further exploration in an area of 502 km2 shows the potential for large volumes of high quality hydrocarbons.

The find is located in the Argentinean Neuquén province in the Vaca Muerta formation, with an extension of 30,000 km2, of which YPF owns rights to 12,000 km2.

Wood Mackenzie has identified Vaca Muerta as one of the world's best shale plays, describing it as "excellent."

These resources will transform the energy potential of Argentina and South America, boasting one of the world's most significant accumulations of non-conventional resources.
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www.repsol.com

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