In August 2003, Zaver Petroleum signed an Exploration and Production sharing Agreement (“EPSA”) for Sudan Block –9.

The hydrocarbon resources in Sudan are being rapidly commercialized with extremely good return on investment. The high prices of oil have resulted in major windfall profits for the Chinese, Malaysian, and the Indian Companies and of course the Sudanese Government.

Oil Production has risen steadily since the completion of an export pipeline in July 1999. Crude oil production averaged 343,000 barrels per day during 2005. A significant new 2D seismic acquisition about 2820 Km was completed in record time on Block – 9 and the data has been processed and interpreted. Based on the seismic interpretation, Joint Venture plan to drill exploratory wells in future.

Work Commitment:

The work commitments for Block- 9 over the first three years, includes a 1000 Km seismic acquisition and the drilling of three (3) exploration wells, adding up to a total financial commitment over the first 3 years to US$ 24.0 million. Zaver Petroleum is well positioned to explore, develop and commercialize these opportunities and become a major player in the development of Sudan’s economy.