OVERVIEW

Italy

• Gas production providing positive cash flow to current operations.
• Unhedged oil and gas.  Certified 20MMbbls oil reserves at Ombrina Mare. Oil upside plays as operator with shallow offshore discovery and several large oil targets. Development of oil and gas resources.
• 19 production concessions and 13 exploration permits
• Operator for 11 concessions and 7 permits
• Production of 1 Bcf p.a.

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Malta

• Four prospective blocks in offshore Malta
• Blocks cover an area of 5700km²
• Petroleum potential is related toTunisian and Libyan fields
• Blocks are prospective for early Tertiary reefs
• Analogues are the Metlaoui fields and the highly productive Intisar reefs in Libya’s Sirte Basin
• A stable political climate, full member of EU
• Favourable fiscal terms

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Tunisia

• MOG holds 25% working interest in the Teboursouk permit in Northern Tunisia
• Covers a surface area of 4,956 km²
• Seismic and geological works (since 1995) has defined several prospects and leads that constitute geological subdivisions of the block
• TEB1 land operating hydrocarbon system
• Conducting seismic around TEB1 to evaluate potential for side track
• Commission 200km 2d seismic on northern part of permit
• Proximity to refinery

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France

• MOG holds 11.154% working interest in the Grenade Oil Field

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