Sky Petroleum Reports 30,922 Barrels During 2008 First Quarter

Sky Petroleum, Inc. (OTCBB: SKPI), an oil and gas company, today

reported that during the first quarter ending March 31, 2008 Mubarek

production from the H2 and K2- ST 4 wells was 30,922 barrels of oil. The

Mubarek H2 well produced 9,144 barrels of oil or 101 bopd and the

Mubarek K2-ST4 well produced 21,778 barrels of oil or 243 bopd during

the first quarter of 2008.
The performance of the H2 and K2-ST4 wells were both reasonably stable

for the first quarter of 2008 and the K2-ST4 well decline appears to

have normalized.
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 enhance

and stabilize production from the wells, the total cost of drilling and

operating the wells, the production could drop below current rates due

to the unstable nature of the wells, 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 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.