Sky Petroleum Corporate Update
SKY PETROLEUM, INC. (OTCBB: SKPI) is an international energy business concentrating on exploration and production, trading and
advisory services. Its management and board have extensive experience successfully working in North Africa, Europe, and the Far and
Middle East. Sky Petroleum has been exploring opportunities in the Maghreb in the past 2 years and has a significant amount of
geological, structural and seismic interpretation data.
Present Activities
While the company has appeared dormant over the last few years, Sky Petroleum’s management has been aggressively seeking and
securing important key alliances. For the past few years Sky Petroleum has been working with both private and public entity
partners to develop new strategies and opportunities related to energy infrastructure projects. Additionally, Sky Petroleum has
been seeking and developing partnerships and other potential strategic alliances needed to either rebuild or create new energy
producing and management projects, including clean coal Energy production, wind and other alternative energy methods as well as oil
and gas E&P.
Sky Petroleum has project commitments and is entering into agreements for projects within Sub-Saharan and West Africa. We
believe these projects have the potential to produce significant and consistent revenue for the company.
With the changing dynamics and notable restructuring of the entire energy industry over the last ten years, Sky Petroleum
believes that companies in this field must be highly opportunistic, operationally nimble and alliance friendly. Sky Petroleum's
crude oil and products trading business is also a development focus and potentially offers significant growth for the company.
Sky Petroleum is working with one of its partners to supply certain areas in continental Africa with advanced renewable energy
technologies, currently focused on Clean Coal Power.
Looking Ahead
Sky Petroleum's board of directors have been patient with the timing of growth and corporate developments. The growth strategy
is further assisted by current market demands and development potential opportunities. The board believes that the strategy is on
course with further work to enhance the portfolio of opportunities for growth, and is also reviewing its significant tax loss
carry.
As several new governments are eager to improve and create new energy assets, Sky Petroleum believes that, through its
experience, leadership, and extensive relationships, it is well positioned to play a key role in these developments.
About Sky Petroleum
Sky Petroleum, Inc. was founded in 2004 in Austin, Texas and has offices in Dallas, London, Dubai and Tunisia. Sky Petroleum is
an oil and gas exploration and production company with interests in upstream trading activities globally. Sky Petroleum has been
active in several areas of the world over the past decade, including offshore oil production on the coast of the Emirate of Sharjah
in the Arabian Gulf (which ceased production in 2009). Sky Petroleum held concessions over three onshore oil exploration blocks in
Albania, formerly owned by OMV (an Austrian oil company), these concessions were terminated by the Albanian Government in 2011. Sky
Petroleum was also a shareholder of Concorde Oil & Gas, which held Russian oil fields located in Luzkoye and Chikshina in the
Timan-Pechora basin, west of the Aural Mountains, until these assets were sold to Kuwait Energy Plc, a company that Sky Petroleum
remains a shareholder.
Look for future announcements for SKY PETROLEUM, INC. (SKPI:OTC)
Safe Harbor
Except for historical information, the matters set forth herein, which are forward-looking statements, including the focus of
Sky Petroleum’s business and its ability to implement its business strategy, statements related to seeking and securing important
key alliances, securing private and public entity partners to develop new strategies and opportunities related to energy
infrastructure projects, developing strategic alliances needed to either rebuild or create new energy producing and management
projects, its expectation that it will develop as a leading partner for several large projects, its ability to enter into
agreements for projects within Sub-Saharan and West Africa and India and other statements contained in this press release.
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, government regulation, enforceability of contractual rights, 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 that may be contained in the company's
periodic filings with the SEC.
Sky Petroleum, Inc.
Ron Miller, 469-319-1300
Investor Relations
RMiller@skypete.com
or
Karim Jobanputra, CEO, 469-319-1300
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