RISC independent reserve audit used to support Pharos corporate financing

RISC has completed an independent reserve and project update of the Vietnam fields held by Pharos.  The TGT field is a multi-layer, multi-compartment offshore stacked sandstone oil reservoir with water drive, recompletion and infill drilling opportunities. The CNV oil field is an offshore fractured basement reservoir that has depleted below the bubble point and continues to steadily produce.