Sky Petroleum Announces Drilling Operations Started on Second Mubarak Well

Sky Petroleum, Inc. (OTCBB:SKPI), an oil and gas exploration
company, is pleased to announce that Crescent Petroleum Company
International Limited ("Crescent"), the operator of the Mubarak Field,
has informed the company that mobilization of the Rani Woro drilling
rig to the platform has been completed and the drilling operations on
the K2-ST3 well have commenced.

The well is being drilled from the existing K wellhead platform to
a sub sea depth of approximately 13,500 feet into the Ilam/Mishrif oil
reservoir. It will be drilled as a sidetrack of the pre-existing
Mubarek K-2 well which was drilled to test the deeper Thamama gas
condensate reservoir. Results are anticipated in the third quarter of
2007 after testing of the well.

Additionally, the company has received USD 1,159,793 representing
its net share of production revenue from the April 22nd, 2007 lifting.
The H2 well has produced 83,692 barrels of oil as at March 31, 2007
since it went into production on May 16, 2006.

About Sky Petroleum

Sky Petroleum (OTCBB:SKPI) is an oil and gas exploration company.
Sky Petroleum's primary focus is to seek opportunities where
discoveries can be appraised rapidly, and developments can be advanced
either by accessing existing infrastructure, or by applying the
extensive experience of established joint-venture partners. In
addition, the company also plans some higher risk, higher reward
exploration prospects. For additional information please visit
www.skypetroleum.com

Safe Harbor

Except for historical information, the matters set forth herein,
which are forward-looking statements, involve certain risks and
uncertainties that could cause actual results to differ. Potential
risks and uncertainties include, but are not limited to, the ability
to stabilize the well, the ability to carry out additional stimulation
of the zones producing oil, the accuracy of estimated production rates
and the price of crude oil, the accuracy of operating costs and
monthly revenue forecasts, the timing and success of other proposed
infill drilling programs, the timing for drilling the second
obligation well, the contemplated continued production at the Mubarek
Field, if any, the competitive environment within the oil and gas
industry, the extent and cost effectiveness with which Sky Petroleum
is able to implement exploration and development programs in the oil
and gas industry, obtaining drilling equipment on a timely fashion,
commodity price risk, and the market acceptance and successful
technical and economic implementation of Sky Petroleum's intended
plan. Additional discussion of these and other risk factors affecting
the company's business and prospects is contained in the company's
periodic filings with the SEC.