OPERATIONS OVERVIEW

MOG aims to increase production and its total reserves significantly by converting resources to Proved and Probable reserves. We shall be achieving this through a key works programme which amongst other things will:

• Ombrina Mare - fast track field development
• Evaluate and progress for drilling Ombrina South and South East oil prospects potential and the other gas prospects in the area
• Drill further onshore wells gas exploration
• As operator drill the Monte Grosso 2 well in joint venture with ENI and Total
• Develop Guendalina Gas Field and start gas production in 2011(ENI operator)
• Complete the exploration assessment of Malta offshore Area 4 and drill an exploration well