Baraka Petroleum Provides Mauritanian Drilling Update

Tuesday, March 20, 2007

Australian based oil and gas exploration company Baraka Petroleum Limited has been provided with an update on the well testing on Heron-1 within Coastal Block 20 in Mauritania by the operator and joint venture partner CNPC International Mauritania Limited (CNPCIM).

The land-drilling rig ZJ50LDB operated by drilling operator GWDC (Great Wall Drilling Company) is still on the site of the CNPCIM operated Heron-1 exploration well in coastal Block 20 on-shore Mauritania, West Africa.

As at 2:00 pm (AWST) on the 19 March 2007, the operation was setting a cement plug in preparation for abandoning the well. The past week has been spent preparing for and conducting well test #2.

Test #2 from 1856.5 – 1863.5 metres in Lower Campanian sandstone reservoir failed to flow to surface and this is interpreted to be due to poor quality reservoir.

The results of Heron-1 and its implication for the prospectivity of Block 20 will be assessed by the Joint Venture and a meeting will be held in early Quarter 2 2007 to agree the forward work programme in the permit.

Managing Director Max de Vietri said: “This was Baraka’s first exploration well and while we are disappointed with the result we are pleased that we have been able to participate in the exploration of this frontier acreage and add to the geological knowledge base of the area. We have formed a good working relationship with our joint venture partner CNPCIM and look forward to a continuing association.”

CNPCIM is a wholly owned subsidiary of CNPC International Limited (CNPCI) and is Operator of Block 20 with 65% interest. Baraka Petroleum’s interest in Block 20 is 35%.

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