Tanzania - Nyuni

• Number of leads and prospects well-defined by seismic.

• Near-shore licence in an area of shallow reefs and small islands which make ideal drill sites for a land rig.

• Drilling of Nyuni-1 well to nearly 4,000 metres during 2003/4 has encountered numerous oil and gas shows in a thick but complex reservoir sequence.

• New marine (660km) and transition zone 2D seismic acquired over the Nyuni Licence from 2005 to 2007.

• Numerous leads identified with potential for multi-million barrel discoveries.

• Interests farmed out to Key Petroleum and RAK Gas Commission in 2007.

• Kiliwani exploration well, the 2nd of 2 back-to-back wells, was spud in February 2008 to test Lower Cretaceous Sand Stones.

• Kiliwani is directly adjacent to the producing field Songo Songo and only 5km from a major gas pipeline.