Medex Petroleum Limited Information

MEDEX PETROLEUM AT A GLANCE Incorporated in 1995 as an independent privately-held company, registered in Cyprus and headquartered in Paris, France Specializing in oil and gas exploration and production Mainly active in North Africa : Algeria and Tunisia through its two subsidiaries Medex Petroleum (North Africa) Ltd and Medex Petroleum (Tunisia) Ltd Main achievements : 3 onshore exploration and development blocks in Algeria 2 offshore exploration blocks in Tunisia Positive results driven by successful exploration and production activities providing exponential growth potential Cost-effective exploration and production activities based on local know-how and expertise Environment responsible : health protection, personnel safety and natural resources preservation Milestones 2007 Signature of Zaafrane and Remada Permits in Tunisia 2006 Start of second (two-year) contractual period in respect of Blocks 226/229b and 242 in Algeria 2005 Relinquishment of Algerian Block 221 and completion of sale of Tunisian assets (Zarat Permit and Didon Concession) to PA Resources AB 2004 Didon second phase of development : fixed platform and FPSO 2002 Signature of Blocks 242 and 226/229b Contracts with SONATRACH (Third International Bid Round) 2001 Signature of Block 221 Contract with SONATRACH 1999 20% farm-in the 7 November Permit offshore the Tunisian/Libyan coast 1998 First oil from Didon Concession : underwater completion and FPSO 1996 Acquisition of Zarat Permit and Didon Concession offshore Tunisia from Marathon International Oil Company and Edisto Tunisia Ltd (77.78% WI & Operatorship) 1995 Creation of the company