In the framework of tracking exploration and drilling activities of the exploration companies in the concession areas granted to them according to the laws and decrees duly signed, here are the activities of the extension of the Initial Exploration Period of some exploration companies:

• GulfSands petroleum – Block / 26 /:

The request of Gulfsands petroleum to enter the second extension of the Initial Exploration Period has been approved. During the two years (24 months “) extension as the date of 21.08.2010, IPR will drill two exploration wells, and spend / 4 / million U.S. dollars.

• Petro-Canada, Al-Qamishli Contract, Block 2:
Petro-Canada has requested to enter the second extension of the Initial Exploration Period from the date of 14/8/2010. During the /30/ months extension, Petro-Canada will drill one exploration well and spend / 3 / million U.S. dollars.
• INA INDUSTRIJA NAFTE d.d., Afamea Contract, Block /10 /:
Under its Contract with us ratified by Law No. / 15 / of 2004, INA INDUSTRIJA NAFTE d.d. has requested to enter the second extension of the Initial Exploration Period for the block / 10 /. The company now is at the stage of checking its required commitments (coordinates of relinquishment – the bank guarantee) in accordance with the conditions and provisions of the service contract. INA INDUSTRIJA NAFTE d.d will drill one exploratory well, and spend /5/ million U S. dollars during the second extension of the / 24 / months Initial Exploration Period.
• TatNeft – Block / 27 /:
The request of TatNeft to enter the second extension of the Initial Exploration Period has been approved, with effect from the date of 01.10.2010. During this 24-months extension, TatNeft will implement 80 km2 3D seismic survey, and 760 km2 2D seismic survey, and will drill two /2/ exploratory wells, and spend 12.8 million dollars.

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