Message #6 From:
Stock News Bot Date: May 12, 2008 09:31:41 AM
Sky Petroleum Reports 30,922 Barrels During 2008 First Quarter
Mubarek Production from H2 and K2 ST4 wells approximately 344 bopd for the First Quarter of 2008
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.
