Sipetrol International SA

Sipetrol International SA has retained Stellar Energy Advisors to sell its 50% operated interest in the North Bahariya concession in the Western Desert onshore Egypt. The concession is approximately 165 square kilometers and 130 kilometers west of Cairo. It includes Abrar, Ferdaus, Ganna, Rawda and Rayan fields producing from the Cretaceous Abu Roash G sands. Production is 7,000 barrels of oil per day. Gross potential remaining reserves are 26.5 million barrels. Potential upside exists from waterflooding and exploration in the Jurassic formation. A 20% interest held by INA Naftaplin is also available. The data room is open through Dec. 19. Bids are due by Jan. 21. Contact Spencer White, +44 (0) 20- 7493-1977.