Oryx Petroleum Corporation Limited announced its oil reserves and resources as at December 31, 2019 as evaluated by Netherland, Sewell & Associates Inc. ("NSAI"), an independent oil and gas consulting firm. Highlights of the report for Oryx Petroleum's gross (working interest) oil reserves and resources volumes, and future net revenue related to oil reserves and contingent oil resources sub-classified as development pending in the Hawler license area as at December 31, 2019, as compared to the equivalent estimates prepared by NSAI as at December 31, 2018 (the "2018 NSAI Report"), include: Proved plus probable oil reserves decrease to 103 million barrels ("MMbbl") versus 127 MMbbl: Decrease of volumes attributable to the Tertiary and Cretaceous reservoirs in the western fault block of the Banan field due to remapping of the field based on new well data obtained during 2019; Decrease of volumes attributable to the Cretaceous reservoir in the Zey Gawra field due to production and well performance; Modest decrease of volumes attributable to the Cretaceous reservoir in the Demir Dagh field due to production and a reduction in the number of assumed producing wells. After-tax net present value of future net revenue related to proved plus probable oil reserves of $732 million versus $814 million: Decrease is the result of lower forecast gross production volumes, lower forecast export oil prices, and a modest increase in forecast capital and operating costs, partially offset by a higher percentage entitlement under the production sharing contract. Best estimate (2C) unrisked contingent oil resources attributable to the Hawler license area of 176 MMbbl versus 168 MMbbl: Addition of volumes attributable to the Banan Tertiary resulting from remapping of the Banan west fault block using data obtained during drilling in 2019. Best estimate unrisked prospective oil resources of 2,263 MMbbl unchanged from December 31, 2018. Average gross (100%) production from the Hawler license area for the months of December 2019 and January 2020 was 14,000 bbl/d and 14,500 bbl/d, respectively. Payments have been received for all oil sold through the pipeline through September 2019. The horizontal sidetrack of the previously drilled Demir Dagh-3 well targeting the Cretaceous reservoir was completed as a producing well in December 2019. The drilling of a horizontal sidetrack of the previously drilled Banan-1 well in the portion of the Banan field east of the Great Zab river was completed in early 2020. Data obtained during drilling indicate that the Tertiary reservoir in the eastern portion of the Banan field contains oil of similar density to oil produced from the Tertiary reservoir in the portion of the Banan field west of the Great Zab river. Attempts to complete the well as a producer in the Cretaceous reservoir were unsuccessful. Further drilling targeting both the Tertiary and Cretaceous reservoirs is planned in 2020. Operations in recent weeks were successful in shutting off water production from the Banan-5 well which is producing oil from the Cretaceous reservoir in the portion of the Banan field west of the Great Zab river.