Undisclosed

IndigoPool has been retained to find a farm-in partner to help develop high-potential exploration assets in Ukraine. The licenses are in the Dnieper Donets Basin of eastern Ukraine and in the relatively unexplored Carpathian thrust belt of western Ukraine. In the Eastern Ukraine, ongoing geological and geophysical work includes integration of newly acquired and processed 3-D seismic data with the well data. The seismic interpretation has identified potential trapping mechanisms in the Visean sequence and the deeper Tournasian and Devonian sediments. A detailed work plan has been compiled with an aggressive drilling campaign, planned for third-quarter 2010. Recent drilling in the Carpathian Basin license has revealed a highly active gas system and has suggested the strong possibility of extensive reservoir sequences and trapping mechanisms within the thrust zones. Furthermore, the reprocessed 2-D seismic data has generated encouraging leads and prospects. Contact Les Finalle, 713-689-5860, lfinalle@indigopool.com.