PRESS RELEASE 19th October 2005 Block P Oil Discovery Malabo, 19th October, 2005 – The Ministry of Mines, Industry and Energy is pleased to announce that the P-2 exploration well, operated by Devon Energy, is an oil discovery. The Ministry anticipates that further evaluation of the P-2 discovery will take place during 2006. In the Ministry’s view, the P-2 well further demonstrates the evolving potential of the Rio Muni Petroleum Systems that were established by the Ceiba and Okume Complex discoveries from 1999 to 2004.