Ireland Operations

OFFSHORE WEST OF IRELAND

Frontier Exploration Licence Nos. FEL 1/08 & 2/08 (16% interest)

The interests were acquired following application for blocks in the 2007 Irish licensing Round, which was announced in March 2008.

DROMBEG

The Drombeg blocks lie close to and south west of the Dunquin licence in water depths of c. 2,000-3,000 metres, and contain the Drombeg prospect. ExxonMobil as Operator recently completed a 2D seismic survey over the acreage. These data should help to better define the prospectivity of the Drombeg area.