OVERVIEW

Italy

• Gas production providing positive cash flow to current operations.
• Unhedged oil and gas.  Certified 40MMbbls 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.
• 17 production concession and 13 exploration permits
• 3 production concessions applications
• 9 exploration permit applications
• 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) have defined several leads

• TEB1 well drilled in 2008; produced water and was suspended

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France

• MOG holds 11.154% working interest in the Grenade Oil Field
• MOG has a 11.154% working interest in the Donzacq Permit application

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