Sky Petroleum, Inc. (OTCBB:SKPI), an oil and gas company, today
reported that during the two months ending November 30, 2007, Mubarek
production from the H2 and K2-ST4 wells was 31,562 barrels of oil.
During the month of October Mubarek production from the H2 and K2-ST4
wells was 18,576 barrels of oil and during the month of November
Mubarek production from the H2 and K2-ST4 wells was 12,986 barrels of
oil. October is the first complete month of production from the K2-ST4
well and it continues to be observed in order to optimize production.
The Mubarek H2 well produced 3,187 barrels of oil or 103 bopd and
the Mubarek K2-ST4 well produced 15,389 barrels of oil or 496 bopd
during October. The Mubarek H2 well produced 3,241 barrels of oil or
105 bopd and the Mubarek K2-ST4 well produced 9,745 barrels of oil or
419 bopd during November.
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 completing 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.
